New Holcim Chief Executive To Focus On Costs, Open To Divestments

Bernard Fontana, the new chief executive of Swiss cement maker Holcim Ltd. (HOLN.VX), said Wednesday he would consider divestments as part of aim to improve efficiencies.

Fontana said that, while Holcim has already made significant efforts to reduce costs, there are opportunities to improve the return on invested capital of its assets.

"My view is that a lot has been achieved, but we still have numerous opportunities to further continue what I call our 'cost leadership journey.' I expect significant initiatives to be further deployed on cost improvements," Fontana said.

Fontana, who replaced Markus Akermann as chief executive on Feb. 1, said the company had opportunities to improve costs in logistics, procurement, energy and fixed costs and that he was open to selective divestments.

He was previously chief executive at Aperam SA (056997440.LU), a stainless steel producer based in Luxembourg that was spun off from ArcelorMittal (MT).

-By John Revill, Dow Jones Newswires; +41 43 443 8042; john.revill@dowjones.com

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