ALPHA, one of SA’s three largest cement producers, says its R29m rebranding exercise is not indicative of intentions by its largest shareholder to up its stake in the South African company. Swiss company Holcim owns 54 per cent of Alpha, which was renamed Holcim SA from this week. South African-listed construction group Aveng owns the remainder of the company.
Holcim SA MD Karl Meissner-Roloff yesterday denied that the move was a step towards a possible takeover of the company by its Swiss shareholder. Meissner-Roloff said there was "no agenda" behind the rebranding exercise, to be completed by end of the year. He said the name change was part of a "major international brand alignment exercise" by Holcim in the 72 countries in which it operates.