Central enterprises to reorganize the next city of China Building Materials and Sinoma shares entered into a merger agreement

BEIJING, Sept. 8 (Xinhuanet) - China Building Materials announced on the evening of the 8th, said China Building Materials and Sinoma shares entered into a merger agreement, the conversion ratio for every 1 shares of Sinoma shares in exchange for 0.85 shares of Chinese building materials. The stock will resume trading on September 11th.

August 22, 2016, approved by the State Council, China Building Materials Group Co., Ltd. and China Sinoma Group reorganization. China Building Materials Group Co., Ltd. changed its name to China Building Materials Group Co., Ltd., as the parent company after the reorganization, China Sinoma free transfer into China Building Materials Group Co., Ltd.

It is understood that China's building materials is China's largest comprehensive building materials industry group, "Fortune" Fortune 500 companies, more than 10 years to more than 40% of the compound annual growth rate of rapid development. Sinoma Group is the only group in the non-metallic materials industry has a series of core technology and complete innovation system of enterprise groups, is the second largest building materials enterprise groups, for many years ranked the top 500 Chinese enterprises.

Industry insiders pointed out that as the country's largest and second largest building materials group, both in the cement, glass fiber and other business segments have coincidence, through reorganization can strengthen homogeneous business integration and sub-industry consolidation, out of some excess capacity , To achieve strong combination. At the same time, China's building materials is good at cement, glass, light building materials, glass fiber and other building materials, and China Sinoma is good at non-metallic materials manufacturing, non-metallic materials, equipment and engineering, non-metallic mining industry, through business restructuring, The two groups through the complementary advantages can effectively improve the overall competitive strength.