It is reported that China CAMC Engineering a company mainly engaged in engineering construction projects and the export of construction equipment intends to spend CAD 119 million, or about CNY 730 million to acquire a 60% stake in Canadian company Procon Holdings Inc.

Procon Holdings is a full service mining contractor involved in the entire project cycle. It also provides tunnel engineering services.

According to CAMC Engineering, the acquisition will expand its engineering contracting business to the mining sector and help the company enter the North American market.

(Sourced from yicai.com)