Holcim PH big boss Horia Adrian forecasts softer growth in cement industry

Cement giant Holcim Philippines expects a “softer” recovery for the industry this year amid global economic challenges such as oil price hikes and increasing commodity prices.

In an interview with the Philippine News Agency, Holcim Philippines president and CEO officer Horia Adrian said the cement industry would continue its recovery in 2022 albeit at a slower pace compared to last year.

“We do expect the industry to still recover in pre-pandemic levels. It has been recovering in 2021, and in 2022, we do expect that this will continue. Although with all these cost increases in fuel, electricity, it will be probably soft recovery,” Adrian said.

With the volatile oil prices in the global market, which have been increasing since Russia’s invasion of Ukraine started in February, the oil price hikes would have “terrible” effects on the firm’s operation.

Adrian said Holcim’s push for reusing existing materials and other waste as alternative fuel has helped improve the company’s operations.

Despite the challenging business environment, Adrian said the new government’s intention to continue the “Build, Build, Build” infrastructure program of the Duterte administration would augur well for the cement industry.

He said private consumption is also expected to pick up in the second half of the year, supporting the growth of the economy. (PNA)

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