Fontana sees more swaps in cement reshuffle

Holcim Chief Executive Officer Bernard Fontana said swapping cement production facilities is more likely than outright purchases or sale of individual units, according to Bloomberg reports.

Swapping parts of a portfolio with another company would not be more difficult to implement than buying or selling individual units, Fontana told journalists at a meeting in Zurich. Holcim’s CEO has said he is open to “selective divestments,” though he declined to comment specifically on Holcim’s mergers and acquisitions activity.

Fontana aims to increase return on invested capital to more than eight percent after taxes from about 3.9 per cent last year by cutting costs, improving customer relationships and potentially selling some assets.