Big Asian producers in the frame for Holcim Philippines acquisition

China's Anhui Conch Cement Co and Japan's Taiheiyo Cement Corp have been invited to the next round of bidding for LafargeHolcim's Holcim Philippines Inc, along with Eagle Cement Corp.

Shares of Holcim Philippines have risen more than 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, says Bloomberg.

Holcim Philippines has also attracted interest from China Resources Cement Holdings Ltd and Hongshi Group Co, reports Bloomberg.

Meanwhile, Holcim Philippines Inc has launched a new special blended cement product formulated to perform better and have a lower impact on the environment than ordinary Portland cement (OPC). The new product, called 'Solido', has clear advantages over OPC that makes it a better choice in building infrastructures in the country, said Ram Maganti, senior vice president for marketing and innovation of Holcim Philippines.