Holcim is set to charge CHF775 (€644m) of impairment charges in its 2011 accounts. The largest item will be the CHF415m charged against the South African associate AfriSam. Reduced cement demand has led to impairment charges of CHF328m in Europe, primarily in Spain, but also in eastern Europe, and of CHF32m in North America, where two US plants are being closed permanently.
In India, ACC's cement shipments rose by 8.8% in January to 2.23Mt while cement production was up by 9.2% to 2.25Mt. This was after a strong 2011 performance, when cement deliveries advanced by 11.9% to 23.68Mt while production was ahead by 11.6% to 23.66Mt.
Having been established at Holderbank in 1912, Holcim will be celebrating its centenary this year. The 2011 results will be announced on 29 February.