LafargeHolcim Announces Lapse of Philippines Transaction
11 May 2020 - 9:30AM
Dow Jones News
Regulatory News:
In May 2019 LafargeHolcim (Paris:LHN) signed an agreement with
San Miguel Corporation for the sale of its entire 85.7 percent
shareholding in Holcim Philippines Inc. subject to customary and
regulatory approvals, including those required by the Philippines
Competition Authority (PCC).
The PCC did not issue an approval of the transaction within the
required time period and consequently the agreement lapsed.
With today's unprecedented COVID-19 crisis, Holcim Philippines'
number one priority is to protect the health of its people while
supporting its partners and communities, in full alignment with
local authorities. The Group is very proud of its people's swift
response to this new reality, for example their extraordinary
participation in providing food, water and other essential products
for their communities as well as medical protective equipment for
government frontline staff.
With construction playing an essential role to keep society
running, Holcim Philippines has resumed operations in three out of
its four integrated cement plants and is well-positioned for a
quick and efficient recovery. Working closely with its customers,
the Group looks forward to supporting the country's strong and
sustainable growth coming out of the crisis.
As the number one building materials company in the country,
Holcim Philippines operates a unique network of production and
distribution assets from Luzon to Mindanao, close to the urban
centers where building materials are most needed. LafargeHolcim
will continue to focus on strengthening its leadership in the
Philippines, one of the most high-growth countries in the
Asia-Pacific region, building on its brand, its valued customer
base and loyal employees.
About LafargeHolcim
LafargeHolcim is the global leader in building materials and
solutions and active in four business segments: Cement, Aggregates,
Ready-Mix Concrete and Solutions & Products. Its ambition is to
lead the industry in reducing carbon emissions and shifting towards
low-carbon construction. With the strongest R&D organization in
the industry, the company seeks to constantly introduce and promote
high-quality and sustainable building materials and solutions to
its customers worldwide - whether individual homebuilders or
developers of major infrastructure projects. LafargeHolcim employs
over 70,000 employees in over 70 countries and has a portfolio that
is equally balanced between developing and mature markets.
More information is available on www.lafargeholcim.com
Important disclaimer - forward-looking statements:
This document contains forward-looking statements. Such
forward-looking statements do not constitute forecasts regarding
results or any other performance indicator, but rather trends or
targets, as the case may be, including with respect to plans,
initiatives, events, products, solutions and services, their
development and potential. Although LafargeHolcim believes that the
expectations reflected in such forward-looking statements are based
on reasonable assumptions as at the time of publishing this
document, investors are cautioned that these statements are not
guarantees of future performance. Actual results may differ
materially from the forward-looking statements as a result of a
number of risks and uncertainties, many of which are difficult to
predict and generally beyond the control of LafargeHolcim,
including but not limited to the risks described in the
LafargeHolcim's annual report available on its website
(www.lafargeholcim.com) and uncertainties related to the market
conditions and the implementation of our plans. Accordingly, we
caution you against relying on forward-looking statements.
LafargeHolcim does not undertake to provide updates of these
forward-looking statements.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200510005020/en/
CONTACT: Media Relations: media@lafargeholcim.com
+41 (0) 58 858 87 10
Investor Relations: investor.relations@lafargeholcim.com
+41 (0) 58 858 87 87
SOURCE: LafargeHolcim
Copyright Business Wire 2020
(END) Dow Jones Newswires
May 10, 2020 19:15 ET (23:15 GMT)
Holcim (PK) (USOTC:HCMLY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Holcim (PK) (USOTC:HCMLY)
Historical Stock Chart
From Aug 2023 to Aug 2024