European acquisitions on Sinoma's agenda

China National Materials (Sinoma) will increase its capital expenditure by 29 per cent to 11.23 billion yuan (HK$13.89 billion) this year, some of which may be spent on acquiring European companies.

The state-owned firm had set aside 500 million yuan to acquire mostly foreign cement equipment companies, said chief financial officer Yu Kaijun. "We are in talks to acquire some European cement equipment companies, including German ones."

via Business feed http://www.scmp.com/business/companies/article/1200612/european-acquisitions-sinomas-agenda