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AKARTA: Cement manufacturer Holcim Indonesia (SMCB) announced that its parent company, Holcim Ltd., has established a divestment team with Lafarge to move forward the divestment process, following their planned merger.

In a statement published on the Indonesia Stock Exchange (IDX) website on Tuesday, Holcim said the committee had drawn up a list of proposed asset disposals, representing a major part of the total assets that both Holcim Ltd. and Lafarge plan to divest.

However, the list does not contain any information regarding assets in Indonesia. Presently, Holcim produces cement under the Holcim brand, while Lafarge produces cement under the Semen Andalas brand.

Holcim previously said the merge would increase Holcim'€™s and Lafarge'€™s domestic shares to 17 percent. Holcim currently produces 7 million tons of cement and clinker annually.