Cemex Holdings Philippines (CHP) disclosed that APO Cement and Solid Cement have repurchased the cement brands from their Switzerland-based sister firm, Cemex Innovation Holding (CIH). The deal with the Consunji family cost US$12.55m.
APO Cement, operating from Naga, Cebu, acquired the Apo Cement brand for US$8.2m, while Solid Cement, which has a plant in Antipolo, paid US$4.53m for the Rizal and Island trademarks. The Island and Rizal brands, established in 1930, are primarily sold to customers in Luzon, whereas the 63 year-old Apo brand is marketed in the Visayas and Mindanao regions.
This transaction follows Cemex’s divestment from the Philippines, with the sale of Apo Cement and Solid Cement to DMCI Holdings, Dacon, and Semirara Mining and Power of the Consunji family for US$305.6m last April.
