Nobody is raising their voices against the acquisition by San Miguel of Holcim Philippines, Inc. For those who are quite old, Holcim was the successor of Bacnotan Cement Corporation. Bacnotan then was synonymous with cement, as Colgate is to toothpaste.
Now San Migule has Holcim in its pocket for a consideration of US$2.2B.
For us in Northern Luzon, cement either means Holcim or Northern Cement. Both are owned by San Miguel. Whatever brand you buy, your money is going to the pockets of San Migulel.
Towards Metro Manila, in Bulacan, San Miguel also owns Eagle Cement Corporation. So it seems that whatever cement you buy in Luzon including Metro Manila, your money gets funneled into San Miguel’s coffers.
If that is not monopoly, we would not know what is.
The acquisition of Holcim by San Miguel is now being reviewed by the PCC (Philippine Competition Commission). That commission was created supposedly to prevent monopolies from being established to save Filipinos from monopolistic prices which are always very high, or even predatory.
Up to now, however, we still have to see that happening. What we are seeing are monopolies being established by oligarchs. Whatever little money the people have are being siphoned into their (the oligarchs’) billions and billions of dollars in domestic and foreign banks.
If the PCC will give its thumbs up to the Holcim acquisition which appears to be in the bag, it is time to relocate, if you can, to other countries where the government really cares for the people’s welfare.**