"Holderbank" targets further growth in Mexico.

30 March 2000

Mexican-based Apasco S.A. de C.V. (Apasco), a Group company of "Holderbank" Financière Glaris Ltd. ("Holderbank"), will double annual cement capacity at its Ramos Arizpe plant to 2.5 million tonnes over the next two years.


The move to expand the Ramos Arizpe plant - located between Monterrey and Saltillo - will help Apasco to strengthen its cost and market leadership in Northern Mexico within a short span of time, while keeping investment costs at an extremely low USD 80 per tonne capacity. At the same time, the new facility will fulfill the most stringent of international environmental standards.

Today Apasco has an annual installed capacity of 9 million tonnes of cement in six plants. Operating throughout Mexico it is the country's second largest cement producer. To give these figures perspective, Mexico's overall cement consumption was 27 million tonnes in 1999, representing a year-on-year increase of over 4 percent. Apasco has also built strong market positions in the ready-mixed concrete and aggregates sectors. In 1999 Apasco reported net sales of roughly USD 800 million.

With majority and minority interests in 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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