Taguig—(PHStocks)—Cement maker Holcim Philippines Inc. (PSE: HLCM) now has even greater flexibility to supply key markets and a wider range of construction solutions with its acquisition of Lafarge Republic Inc.‘s (PSE: LRI) terminal in Manila and aggregates business in Rizal.
The Star Terminal in Harbor Center, Manila will strengthen Holcim Philippines’s ability to support customers in Metro Manila and South Luzon.
Holcim Philippines’s 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 Philippines President and CEO Eduardo A. 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’s commitment to safety, environmental stewardship and community partnership.
Holcim Philippines closed the acquisition on 04 August 2015 and paid Php3.09 billion for the assets.
Holcim Philippines is a member of the LafargeHolcim Group, the world leader in the building materials industry with 115,000 employees in 90 countries. Holcim Ltd. and Lafarge S.A. completed their global merger and launched LafargeHolcim on 15 July.
With its global reach, wide range of value-adding products, innovative services and comprehensive building solutions, LafargeHolcim will provide construction solutions for important structures for development.