Zurich, March 1 (Bloomberg): Holcim, the world’s second- biggest cement maker, had a 90 per cent rise in fourth- quarter profit as it made acquisitions in India.

Net income of the Jona, Switzerland-based company rose to $278 million. Holcim spent more than $4.3 billion on takeovers in Europe and emerging markets such as Thailand last year.

Chief executive officer Markus Akermann has earmarked another $1 billion for investing in Gujarat Ambuja cements as he seeks to keep pace with Paris-based Lafarge, the world’s biggest cement maker, and Mexico’s Cemex, the no. 3.

“Holcim exploited its strengths in a favourable economic climate and buttressed its market position through major acquisitions,” the company said in a statement. “In fiscal 2006, construction activity is expected to remain favourable in Holcim’s main markets.”

China to recast cement industry

Amid sluggish growth and profits, China, the world’s top cement producer, will speed up restructuring of the industry and shut down small units, the government said.

The National Development and Reform Commission, the nation’s leading industrial watchdog, has decided to speed up the elimination of cement production lines with small capacity and outdated technology.