Fijian
Holdings Limited’s joint-venture partner in Basic Industries Limited –
Holcim NZ Ltd has sold their 49% shareholding to the Vinod Patel Group.FHL now owns 51% shares of Basic Industries and 49% by Vinod Patel Group.
FHL Group chairman Iowane Naiveli says, they welcome their new joint-venture partners and are confident to achieve growth and expansion.
BIL which operates under their brand name Standard Concrete, is the largest ready-mix concrete supplier in Fiji.
BIL has recently launched AGLIME – a branded product for the Agriculture Sector.
BIL has been a joint venture between FHL and Holcim NZ since 1997 who decided to divest their stake in BIL in 2010.
BIL contributed 11% of FHL Group consolidated group revenue for the financial year ending June 2013.
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