Following the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday.

"We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful companies in the building material sector and we're happy to remain part of the group," said Mr Stull.

The CEO also noted the support the company receives by being part of a larger organisation. "Being a member of one of the world's leading building materials providers is a source of strength during these times. The group has been supporting partners all over the world to recover better, with sustainability at the core of its efforts. Together with our partners, we, too, are determined to help move the country forward," he said.