September 30, 2015
Aboitiz Equity Ventures (AEV) has partnered with CRH to acquire a majority stake in the operations of Lafarge in the Philippines. A global leader in the manufacture and supply of a diverse range of building materials and products for the modern built environment, CRH operates in 34 countries. It is the largest building materials company in North America, a regional leader in Europe, and has strategic locations in Asia. CRH shares are listed on the London and Dublin stock exchanges and on the New York Stock Exchange in the form of American Depositary Shares.
AEV believes it is an opportune time to invest in the cement industry amid growing public infrastructure spending and the double-digit growth in private sector spending on housing and commercial projects in the Philippines. The company considers its partnership with CRH to be strategic: AEV provides the industrial expertise and local market knowledge, while CRH delivers the technical expertise.
EIA’s message welcoming RCBM team members into the Aboitiz Group
Good morning, ladies and gentlemen! Thank you for joining us today for this landmark event. For both Aboitiz Equity Ventures and CRH, it is a great honor for us to meet all of you, the men and women of Republic Cement and Building Materials, Inc.
For you, today marks the passing of the torch from Lafarge to the new owners, a strategic collaboration that blends the best of international and local technical expertise and business experience. Indeed, this is truly a momentous occasion for all of us! But before anything else, on a personal note, allow me to share that this is also an emotional moment for me — a throwback moment of sorts. As many of you may know, Aboitiz was once a minority shareholder of Republic Cement in the 1990s. I was on the board of Republic Cement during the exciting construction boom years of that period. I recall the bold decision we made to expand the capacity of our Norzagaray plant with the latest dry process technology, making it one of the most modern integrated facilities in the NCR (National Capital Region) at the time.
Today, RCBM manufactures the best products in the country and, with its six facilities across the country, is indeed a national player. For me, this is a great opportunity to reestablish partnerships with old friends such as your President, Mr. Rene Sunico, as well as to meet the many new and dynamic talents that have made RCBM the country’s top cement company today.
Engaging in partnerships has played a vital role in the Aboitiz Group’s success and expansion over the past 100 years. Today, we are very selective about the partners we choose — they have to bring in something to boost existing capacities and capabilities beneficial to the company. We enter into a partnership wherein all parties can make valuable contributions; a partnership built on shared values and propelled by mutual trust and respect; and a partnership in which decisions are made for the good of the company and its stakeholders. These are the simple principles that have been the backbone of our successful partnerships over many decades.
So we are very pleased to have found a solid and reliable strategic partner in CRH, as we enter the cement and building materials industry. More importantly, we look forward to partnering with all of you; together, let us aim to further build an already successful business and take it to even greater heights. On behalf of the 28,000 team members that make up the Aboitiz Group, we want to express our excitement in entering this industry and collaborating with all of you as we demonstrate our shared, time-honored values of integrity, teamwork, innovation, and responsibility.
For us at Aboitiz, RCBM represents an excellent opportunity to be involved in nation building in a significant way. We believe progressive infrastructure is what will propel our country’s economic growth and what will ultimately lead to a better life for our fellow Filipinos.
On behalf of the Aboitiz Group and CRH, I warmly welcome all of you to the Aboitiz and CRH family. We have full confidence in RCBM’s highly talented team — all of you who have proven your skills, expertise, and commitment in building this successful enterprise. I trust you are ready and raring to embark on an even more exciting and productive journey to achieve greater success for your company and all its stakeholders, and in the process, build a stronger Republic brand!
Thank you and we look forward to working with all of you in creating a sustainable enterprise we will all be very proud of.
Mabuhay ang Pilipinas, mabuhay ang RCBM!