Leading cement maker Holcim Philippines Inc. aims to strengthen its ability to supply key markets and provide a wider range of construction solutions with its acquisition of Lafarge Republic Inc.’s terminal in Manila and aggregates business in Rizal.
Holcim Philippines closed the acquisition on Tuesday and paid PhP 3.09 billion for the assets.
The acquisition was part of the completed global merger of their parent firms Holcim Ltd. and Lafarge S.A., and launched LafargeHolcim on July 15.
Holcim Philippines President and Chief Executive Officer Eduardo Sahagun said the assets are welcome additions to its business.
These assets further strengthen our ability to provide products and solutions that help our customers and partners in the construction industry, he said.
Sahagun added that the facilities will continue to be operated following Holcim Philippines’ commitment to safety, environmental stewardship and community partnership.
The Star Terminal in Harbor Center, Manila will strengthen Holcim Philippines’ ability to support customers in Metro Manila and South Luzon.
Holcim Philippines’ acquisition of Lafarge Republic Aggregates Inc. in Angono, Rizal will provide the company an established aggregates business. The plant in Angono is known for producing the best quality of basalt aggregates, an important ingredient of concrete and asphalt.
Holcim is a member of LafargeHolcim Group, the world leader in the building materials industry with 115,000 employees in 90 countries. (PNA)