Swiss group Holcim, one of the world's biggest cement makers, said on Monday it had increased its stake in Chinese company Huaxin Cement to 39.9% from 26.1% for $282 million (€193 million).

Holcim first took a stake of 23.4% in Huaxin Cement in 1999 and then increased it again in 2003 to build up its presence in China, the world's largest cement market.