Along with the fine future for Holcim Apasco predicted by analysts, the risk-rating agency Standard & Poor’s (S&P) has decided to place the company’s debt on its special list for revision with the implication being that the rating will be improved. This comes just a week after Swiss firm Holcim Ltd announced its intention to acquire the remaining 31.1 per cent of the firm’s capital for US$750m.
"This will be a very intelligent purchase because it will raise the capacity of Apasco to negotiate with customers, suppliers and bank creditors in a market that is taking off," said Jorge Laguna, analyst at brokers Interacciones. Apasco is the second largest cement company in Mexico after Cemex, with a 23 per cent share in the cement market and a 24 per cent share in premixed concrete.
