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News Government expects Holcim Philippines sale to lower cement prices

Government expects Holcim Philippines sale to lower cement prices

Written by Global Cement staff 17 May 2019
  • Print

Philippines: The Department of Trade and Industry (DTI) expects San Miguel Corporation’s acquisition of a majority stake in Holcim Philippines to reduce the price of locally produced cement. Trade Secretary Ramon M Lopez said that he expected operational synergies and economies of scale to ‘hopefully’ bring down prices, according to the BusinessWorld newspaper. He also noted that import duties on imports of cement could also provide a ‘healthy competitive environment.’

San Miguel Corporation agreed to purchase LafargeHolcim’s 85.7% share in Holcim Philippines in early May 2019. The deal is expected to be completed by the end of 2019.

Last modified on 22 May 2019
Published in Global Cement News
Tagged under
  • Philippines
  • Government
  • Holcim Philippines
  • LafargeHolcim
  • San MIguel
  • Divestments
  • Price
  • Department of Trade and Industry
  • GCW405
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