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Call For Comments: Acquisition By First Stronghold Cement Industries Inc. Of Shares In Holcim Philippines, Inc.

/ Call For Comments: Acquisition By First Stronghold Cement Industries Inc. Of Shares In Holcim Philippines, Inc.

Call for Comments:
Acquisition by First Stronghold Cement Industries Inc.
of Shares in Holcim Philippines, Inc.

The Philippine Competition Commission (PCC) invites stakeholders such as cement manufacturers, importers, exporters, distributors, contractors, dealers, hardware owners, retailers, truckers, terminal and warehouse owners, consumers, and other interested individuals to submit their thoughts and comments on the acquisition by First Stronghold Cement Industries Inc. of shares in Holcim Philippines, Inc. which is currently pending review.

First Stronghold, the acquiring entity, is a wholly-owned subsidiary of San Miguel Equity Investments Inc., which in turn is a wholly-owned subsidiary of San Miguel Corporation (SMC).

Through its subsidiaries, SMC is engaged in the manufacture and distribution of cement in the Philippines. It has ownership stake in Northern Cement Corporation and has joint venture interest with Northern Cement and subsidiary Oro Cemento in 2 upcoming plants. SMC’s President and Chief Operating Officer is the majority owner and chairman of Eagle Cement.

In the Philippines, Holcim, the acquired entity, is mainly engaged in the manufacture, sale and distribution of cement, cement products and aggregates, and the provision of technical support on various construction-related quality control, optimization, solution development, and skills upgrade. It currently owns and operates cement manufacturing facilities in different parts of the Philippines.

The public may send their comments via e-mail to mergers@phcc.gov.ph with subject title “Comments on San Miguel Corp and Holcim Philippines Transaction,” or via mail to Philippine Competition Commission located at 25th Floor Tower 1, Vertis North Corporate Center, North Avenue, Quezon City 1105. Please ensure that comments will be received by the PCC Mergers and Acquisitions Office on or before 24 September 2019.