CNBM Signed an Agreement of Transfer of State Share of Zhejiang Leomax Group with State-owned Assets Supervision and Administration Commission of Zhejiang Province Government in Hangzhou on Aug 19th 2008. This is an important step of strategic corporation between Zhejiang government and CNBM. Since last year, CNBM, corporating with southeast leading cement companies, has formed the South Cement Company, and set up the operational centre in Hangzhou. With the support of Zhejiang government, CNBM restructured with Zhejiang Cement, Jianfeng Group, Zhejiang MT., Tiger Group, and other leading cement companies. Alliance and restructuring between CNBM and Zhejiang Leomax Group has significant strategic impact on the South Cement Company. It is also important in China cement industry.