Holcim strengthens position in Singapore

Holcim strengthens position in Singapore
30 April 2007

Holcim has acquired 47.3 per cent of Jurong Cement Limited (JCL), Singapore, from three major shareholders for approximately US$30m. The company is predominantly active in the ready-mix concrete business and has also a presence in slag, special mortars and bag cement in Singapore. In 2006, JCL sold approximately 0.8 million cubic meters of ready-mix concrete. JCL is listed on the Singapore Exchange Securities Trading Limited (SGX-ST).

In accordance with the Singapore takeover regulations, Holcim has further announced a mandatory general offer to the remaining shareholders of JCL at the same price of SG$2.10 per share. The transaction is expected to be completed by mid 2007.

With this acquisition, Holcim reinforces its position in the fast growing market of Singapore, where the Group is already present with Holcim Singapore, already a significant ready-mix concrete supplier and cement import and distribution operation.

In 2006, Holcim Singapore sold approximately 0.9 cubic meters of ready-mix concrete. This transaction is further strengthening Holcim’s presence with cement and ready-mix concrete operations in South-East Asia.

Published under Cement News