Philippines: The Department of Trade and Industry (DTI) expects San Miguel Corporation’s acquisition of a majority stake in Holcim Philippines to reduce the price of locally produced cement. Trade Secretary Ramon M Lopez said that he expected operational synergies and economies of scale to ‘hopefully’ bring down prices, according to the BusinessWorld newspaper. He also noted that import duties on imports of cement could also provide a ‘healthy competitive environment.’
San Miguel Corporation agreed to purchase LafargeHolcim’s 85.7% share in Holcim Philippines in early May 2019. The deal is expected to be completed by the end of 2019.
