Swiss cement giant Holcim Ltd. has offered to buy out minority shareholders in Holcim Apasco S.A. de C.V., Mexico's second-largest cement (six plants totalling 10 million tpy) and ready mixed (80 plants, 3.5 million-yd-per year output) producer behind Cemex S.A.

Prior to a buyout offer effected in January, Holcim Ltd. held a 68.9% stake in Apasco which, beyond Mexican operations, has interests in other Central American cement businesses. The remaining 31.1% stake in the company was estimated to require a $750 million investment, funded by an equity issue.

The buyout offer was scheduled to close March 14. Holcim officials note that full ownership of Apasco, a business that has been part of the company's portfolio since the late 1960s, will allow them to utilize the regional and financial network potential more effectively and tie the Mexican business more strongly into their group.