Holcim consummates purchase of Lafarge Republic assets

Cement maker Holcim Philippines, Inc. (HPI) has finalized the acquisition of P3 billion worth of Lafarge Republic Inc.’s assets, the company said Wednesday.

 

HPI told the stock exchange it bought Lafarge’s Star Terminal at the Harbour Centre Manila, as well as Lafarge Republic Aggregates Inc. in Rizal on Tuesday.

 

“Holcim Philippines closed the acquisition on 04 August 2015 and paid P3.09 billion for the assets,” the company said.

 

“This transaction completes Holcim Philippines’ acquisition of Lafarge Republic assets,” it added.

 

According to HPI, the acquisition will provide the company an established aggregates business, noting that the plant in Angono, Rizal is known for producing quality aggregates which is a vital ingredient of concrete and asphalt.

 

“These assets further strengthen our ability to provide products and solutions that help our customers and partners in the construction industry,” said Eduardo A. Sahagun, HPI president and CEO.

 

The parent firms of both companies – Holcim Ltd. and Lafarge S.A completed a global merger and launched LafargeHolcim last month.

 

“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,” Holcim said. – Jon Viktor Cabuenas/VS, GMA News