China National Building Material Co (DE:D1Y) has released an update.
China National Building Material Co has decided to terminate its merger and asset restructuring plans with Ningxia Building Materials, citing changes in the macroeconomic and industry environment after careful consideration and negotiations. This strategic move is not expected to negatively affect the company’s existing operations or strategic development. Additionally, the company has extended its non-competition undertakings with Ningxia Building Materials and Tianshan Materials to avoid industry competition and support business integration in the building materials sector.
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