Vietnam: LafargeHolcim is considering leaving Vietnam due to oversupply of cement in the local market, according to Nguyen Cong Bao, general director of Holcim Vietnam. The company met with the Ministry of Construction to notify it of its forthcoming business plans in Vietnam. Bao’s statement was reported by the Dau Tu newspaper.
The cement producer has five cement plants with a production capacity of 6Mt/yr, making it the largest manufacturer in the country. It also operates eight ready-mixed concrete plants. The Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer, holds a 35% stake in Holcim Vietnam. LafargeHolcim retains the brands of Lafarge and Holcim’s products including Lavilla (Lafarge) and Holcim Power-S. Holcim Vietnam holds 26% of the domestic market and Lafarge Vietnam holds 12% of the market.