Cement giant Holcim beats forecasts
Swiss cement maker Holcim has beat forecasts for the second quarter of 2009 despite a 41 per cent drop in half-year net income compared with last year.Second quarter results released on Thursday show the company, founded in canton Aargau in 1912, posted a net profit of SFr453 million, ahead of analysts' expectations of SFr415 million.
Holcim, the world's second largest cement maker, has entered into a syndicated loan facility agreement of CHF 400 million with a group of Swiss banks lead arranged by Zürcher Kantonalbank.