Swiss firm Holcim sells operations in Philippines to Chinese company

Holcim sells its operations in the Philippines to a Chinese company Keystone-SDA

The building materials giant Holcim has formalised an agreement with the Chinese company Huaxin Building Materials for the sale of its operations in the Philippines.

The entire transaction was valued at a total of $807 million dollars (CHF654 million).

According to a statement issued yesterday by the Zug-based group, the first phase of the divestment involves the immediate transfer of a 68% stake for a consideration of $527 million. This initial tranche forms the core of the agreement between the two companies. For the remaining stake, Holcim has agreed to a phased disposal mechanism: the sale of this stake will take place over a period of between three and five years, with a guaranteed minimum price of $280 million.

The completion of the sale of the majority stake is expected in the first half of 2027. However, the transaction remains subject to obtaining the necessary approvals from the relevant regulatory authorities.

This divestment forms part of Holcim’s broader strategy to optimise its global portfolio, focusing investment on key markets and innovative solutions for sustainable construction, while gradually divesting from areas deemed non-strategic.

The stock market reacted calmly to the news: on the Zurich stock exchange, Holcim shares – which are part of the Swiss Market Index, the index of the 20 leading stocks – rose by 0.3% at the opening, in a market generally trending upwards. Since the start of January, the share price has fallen by 6%, while its performance over the past twelve months (+13%) and five years (+172%) has been positive.

In its current form, the Holcim Group was formed in 2015 through the merger of the Swiss company Holcim (formerly Holderbank, a firm founded in 1912 in the Aargau town of the same name) and the French company Lafarge. Today, it operates in 45 countries with a workforce of over 50,000 and a turnover that reached CHF15.7 billion in 2025.

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Translated from German, reviewed by an English Department journalist.