Chinese cement giant Huaxin Cement, which recently completed its $1 billion takeover of Lafarge Africa, has continued its global acquisition spree with an $807 million purchase of Holcim's operations in the Philippines, reinforcing its ambition to become one of the world's leading international cement producers.
The latest transaction comes shortly after Huaxin formally entered Nigeria's cement industry by completing its acquisition of Holcim's 83.81% stake in Lafarge Africa, a move that positioned the Chinese company as a direct competitor to industry leaders Dangote Cement and BUA Cement in one of Africa's largest construction markets.
Under the new agreement, Huaxin will acquire 100% of Holcim Philippines for an enterprise value of approximately $807 million, adding another strategic market to a rapidly expanding portfolio that already spans China, Central Asia, Africa and the Middle East.
Holcim said the deal will begin with the sale of a 67.6% stake for $527 million, with the remaining shares to be sold over the next three to five years, valuing the Philippine business at a minimum of $807 million.
The acquisition reflects a broader shift among Chinese industrial companies, many of which are accelerating overseas expansion as slowing domestic demand and a prolonged property downturn reshape the country's construction sector.
