Holcim Philippines announced it will be shutting downs it cement plants for six weeks as demand for the product weakens. In a disclosure to the Philippine Stock Exchange, Holcim said that there is no plan to close HLCM's remaining cement lines. Holcim Chief Operating Office (COO) Ian S. Thackwray said it is possible any of the HLCM's plants may need to have short shutdowns due to the current economic demand.
Thackwray said that despite these shutdowns, there will be no job losses in any of the HLCM's plants.
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