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Mergers and dissolution: Holcim shuts down retailing arm, BPO and British Virgin Island subsidiary

Cement giant Holcim Philippines Inc. is streamlining its operations in the middle of the pandemic with a combination of mergers and dissolutions of its subsidiaries.

In a November 19 board meeting, the Holcim board approved the dissolution of HuBB Stores and Services, Inc., Holcim Philippine Business Service Center, Inc. and Wellborne Group International Limited.

HuBB Stores was formed in 2014 as Holcim’s tradingand franchising arm for construction materials.

Holcim Business Center is a business process outsourcing and information technology provider of the cement giant.

Wellborne is a British Virgin Island company formed in 1999 and was part of the Offshore Leaks database released by the International Consortium of Investigative Journalists.

In the same meeting, Holcim also approved the merger of Holcim Philippines Manufacturing Corp., Bulkcem Philippines, Inc., and Mabini Grinding Mill Corp.

Holci Manufacturing, formerly Victory Cement, has a 1.5 metric ton per year plant with a terminal plant in Calaca, Batangas. Its subsidiaries include Bulkcem which has a bulk terminal in Iloilo and Calamba Aggregates which ceased operations in 2013.

Mabini Mill was formed in 1999 and its Batangas plant was rehabilitated in 2013. Holcims is currently leasing and operating this grinding station.

Holcim is 60.55 percent – owned by Union Cement Holdings, 18.11 percent-owned by Holderfin B.V. , and 7.08 percent-owned by Cemco.

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