MANILA -- Philippine conglomerate DMCI Holdings announced it has completed its acquisition of the local subsidiary of Mexican cement major Cemex, as it looks to boost cement production capacity amid growing domestic construction demand.
DMCI is involved in construction as well as real estate, mining, power generation and construction material manufacturing. The holding company, together with affiliates Semirara Mining and Power and investment company Dacon, jointly acquired about 90% of the shares of Cemex's Philippine subsidiary in a deal worth $272 million.
