Holcim strengthens position in Singapore

04.30.2007
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES


Holcim has acquired 47.3 percent of Jurong Cement Limited (JCL), Singapore, from three major shareholders for approximately USD 30 million. 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 SGD 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, one of the preferred ready-mix concrete suppliers. In 2006, Holcim Singapore sold approximately 0.9 million 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.


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Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in more than 70 countries on all continents.
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