Holcim cement maintains positive stand in Asia

Holcim cement has maintained a positive stand in the Asian region even though the global economy lost momentum in the second half of the year.

A Holcim cement mixer

Markets of Latin America, Africa and eastern Europe were also predominantly positive, a media release from Holcim said.

Even under difficult conditions, Holcim has held up well in 2008 with a full-year operating EBITDA of CHF 5.3 billion. Europe again made the largest contribution to the results. The Group's companies in central and eastern Europe made progress compared with the previous year, as did Azerbaijan.

In contrast, Holcim saw marked declines in its business in Russia and France, particularly in the fourth quarter. In line with the global economic trend for 2009, Asia Pacific can be expected to see a further slow down in growth. The development of the Chinese and Indian economy will be important for the region. Demand in the construction sector is expected to progress due to an increasing demand for affordable housing and major infrastructure projects. Sales of cement and ready-mix concrete should therefore increase overall.

Holcim offers the right products and services, and its corporate culture is customer-oriented. The Group is well positioned in all important markets. High priority is given to a solid balance sheet and a high level of liquidity. Holcim is convinced that the Group can emerge from the current economic cycle stronger than before, and that the post-crisis Holcim will be a better company than the pre-crisis Holcim.

In the absence of key forecast data on the trend of the global economy, the company refrains from making any predictions about the Group performance in 2009. The focus will be on rigorous cost management and maximizing cash flow generation. Holcim and its main objective is to preserve the financial stability of the Group, the release said.