Economy
Holcim Exits Philippine Market, Sells to Chinese Firm for $807 Million
Swiss cement giant Holcim Group announced its exit from the Philippine market, agreeing to sell its local business to China's Huaxin Building Materials for approximately $807 million. The transaction will be completed in stages, with Huaxin expressing commitment to long-term growth.
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- Holcim to Sell Philippine Operations to Chinese Firm for $807 Million
Swiss cement giant Holcim Group announced it will sell its Philippine operations to China's Huaxin Building Materials for approximately $807 million. This marks a significant foreign investment move in the Philippine cement industry.