Chinese cement giant, Huaxin Cement, which recently completed its $1 billion takeover of Lafarge Africa, has continued its global acquisition spree with an $807 million purchase of Holcim’s operations in the Philippines.

This reinforces its ambition to become one of the world’s leading international cement producers.

The latest transaction comes shortly after Huaxin formally entered Nigeria’s cement industry by completing its acquisition of Holcim’s 83.81% stake in Lafarge Africa, a move that positioned the Chinese company as a direct competitor to industry leaders Dangote Cement and BUA Cement in one of Africa’s largest construction markets.

Under the new agreement, Huaxin will acquire 100% of Holcim Philippines for an enterprise value of approximately $807 million, adding another strategic market to a rapidly expanding portfolio that already spans China, Central Asia, Africa and the Middle East.

Holcim said the deal will begin with the sale of a 67.6% stake for $527 million, with the remaining shares to be sold over the next three to five years, valuing the Philippine business at a minimum of $807 million.

The acquisition reflects a broader shift among Chinese industrial companies, many of which are accelerating overseas expansion as slowing domestic demand and a prolonged property downturn reshape the country’s construction sector.

Huaxin’s Nigerian acquisition marked one of the most significant foreign investments in Africa’s cement industry in recent years. By taking control of Lafarge Africa, the company secured an established manufacturing base, nationwide distribution network and a foothold in a market expected to benefit from long-term demand for housing and infrastructure.

The move also represented Holcim’s continued strategy of divesting businesses in selected emerging markets while focusing on higher-margin building solutions.

The Philippines acquisition builds on that momentum. Holcim Philippines operates four integrated cement plants and several grinding facilities, making it one of the country’s largest cement manufacturers.

Adding those assets strengthens Huaxin’s presence in Southeast Asia while diversifying its revenue base beyond China.

For Africa, Huaxin’s continued expansion underscores the continent’s growing importance in global construction materials. Demand for cement is expected to remain strong as governments increase spending on roads, ports, railways, housing and industrial infrastructure.

The company’s entry into Nigeria has already intensified competition in a market historically dominated by Dangote Cement, BUA Cement and Lafarge Africa. Its latest acquisition suggests that the Nigerian deal was not an isolated investment but part of a broader strategy to build an international cement empire through targeted acquisitions.

With major assets now stretching from Africa to Southeast Asia, Huaxin is emerging as one of the fastest-growing global players in the cement industry, using strategic acquisitions to expand its manufacturing footprint and reduce its reliance on China’s slowing domestic market.