Huaxin issued an announcement proposing to spend US$186.6 million to acquire four aggregate plants in Brazil.
This acquisition is a milestone event for Huaxin to promote the development of multiple overseas businesses and explore the South American building materials market. After the transaction is completed, Huaxin will become the first Chinese cement company to enter Brazil.
The subject company of the transaction, with four aggregate plants located in the metropolitan area of the core economic region of Sao Paulo State, Brazil, has an excellent geographical location, obvious advantages in the target market area, and abundant resource reserves, with a total production capacity of 8.8 million tons/year.
Brazil is the largest economy in Latin America, rich in natural resources, friendly environment for foreign investment, huge potential for economic development, and the first Latin American country to establish a comprehensive strategic partnership with China.
Up to now, Huaxin has constructed and operated more than 20 large-scale cement plants and related industrial chain enterprises in 12 overseas countries, including Central Asia, Southeast Asia, South Asia, the Middle East and Africa, etc. Meanwhile, Huaxin has driven the export of domestic engineering projects, equipment and spare parts, which has achieved good social and economic benefits, and has become a successful example of Chinese enterprises' “Going Global”.
