In May 2019, LafargeHolcim signed an agreement with San Miguel Corp. 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.
Regarding the COVID-19 pandemic, Holcim Philippines’ No. 1 priority is to protect the health of its people while supporting its partners and communities, in full alignment with local authorities. The group is working to provide food, water and other essential products for their communities as well as medical protective equipment for government frontline staff.
Holcim Philippines has resumed operations in three out of its four integrated cement plants. 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, a high-growth country in the Asia-Pacific region.