Holcim cement joint venture reports sales growth

Cement supplier Holcim said that its joint venture Hubei Huaxin Cement has seen annual sales growth of 30 percent since it invested in the company.

Holcim entered the Chinese market in 1995. In 1999, the company made a strategic investment in Huaxin Cement, in Hubei province, and became the company's largest shareholder in 2008. Currently, Holcim holds about 42 percent of Huaxin's shares.

Huaxin can produce about 60 million metric tons of cement a year, with operations at 37 cement production sites and 30 concrete mixing stations.

Holcim has introduced mature technology and management expertise into Huaxin, and helped the company achieve results in technology innovation, energy saving, emissions reduction and renewable resources utilization.