Delegation of Mexican journalists visit Holderbank

13 July 2000

"Holderbank" Financière Glaris Ltd. ("Holderbank") is currently hosting a high-level delegation of business journalists from Mexico.


Executive Committee Member Markus Akermann, who heads up "Holderbank's" Latin American activities and international cement trading, took the visit as a welcome opportunity to comment on business developments in Latin America.


A generally sound global economic backdrop is having a positive impact on the Group's operations.


The optimistic forecasts for the current year voiced at the "Holderbank" General Meeting on 12 May are now being realized.""Economic conditions in most Latin American countries have also improved over the year to date.


Mexico witnessed a renewed surge in building activity, and Chile and Ecuador reported increases in cement sales. Group companies in Brazil, Colombia and Costa Rica also posted stronger results.


However, Argentina's economy is still depressed.


The reduction in demand for building materials there is squeezing the Argentine Group company's sales.


"Markus Akermann also expressed the view that Latin America's building materials markets would continue their recovery over the coming months, assuming the world economy remains solid.With majority and minority interests in more than 70 countries on all continents, "Holderbank" is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.

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