Cement News tagged under: Philippines
San Miguel Corp and Holcim Philippines face opposition to merger deal10 June 2019, Published under Cement NewsPresident Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one company. Speaking about the deal a spokesperson for those against the deal said," it will definitely result in a carte... |
Holcim Philippines seals large cement supply contract06 June 2019, Published under Cement NewsHolcim Phlippines Inc has sealed an agreement with Davao Constructors Association Center Inc (DCACI) to supply 400,000t of cement to its building group of 179 construction companies. This follows the provision of 320,000t of cement being supplied by Holcim Philippines to DCACI in 2018. Having introduced its new high-performance blended cement called Solido, construction companies have been eager to use the alternative to ordinary Portland cement (OPC). DCACI president, Antonio Y Uy, said... |
Holcim Philippines reports 35% EBITDA surge in 1Q1905 June 2019, Published under Cement NewsHolcim Philippines has reported a 5.8 per cent YoY decrease in revenue to PHP8.1bn (U$156.28m) for the first quarter of 2019. However, EBITDA has surged 35 per cent to PHP1.7bn while its EBITDA margin climbed from 14.6 per cent to 20.8 per cent in the 1Q19. A minor increase in net profit to PHP704m from PHP700m has been attributed to higher interest expenses for funding capital projects. "I am very pleased to share that we have successfully followed up our strong finish in 2018 with an exce... |
Cemex breaks ground on new line in the Philippines24 May 2019, Published under Cement NewsCemex Holdings Philippines (CHP) has broken ground on its new US$235m line at the plant of its subsidiary, Solid Cement, in Antipolo, Rizal. Upon completion, the expansion is expected to increase Solid Cement’s capacity to 3.4Mta from 1.9Mta. "The continuous investment and expansion of Cemex in the Philippines is a reflection of its profound commitment to help the Philippine government in its quest to build a stronger nation. With the expansion of our operations, we shall be able to suppo... |
Philippines sees 64% increase in cement imports for 1Q1923 May 2019, Published under Cement NewsThe domestic cement industry of the Philippines has reported a 64 per cent increase in imports during the first quarter of 2019. Data presented during the first public hearing conducted by the Tariff Commission on the cement import safeguard measure showed total cement imports of 1.74Mt from 1.06Mt in the 1Q18, according to The Manilla Bulletin. Imports reportedly continued to rise despite the imposition of the provisional PHP8.40/bag (US$0.16/bag) safeguard duty imposed in February this ... |
Republic Cement to co-process Nestlé Philippines' plastic waste17 May 2019, Published under Cement NewsNestlé Philippines and Republic Cement (CRH-Aboitiz) have entered into an agreement to co-process post-consumer plastic waste in the company’s cement kilns. "We are happy to partner with Nestlé Philippines and to help address pollution from residual plastics and sachets. This is a win-win situation for us and the environment. Together, we can build a greener, stronger Republic," said Nabil Francis, director of Republic Cement. In April 2018 Nestlé globally announced a commitment that 100... |
Acquisition of Holcim Philippines may reduce cement prices17 May 2019, Published under Cement NewsThe Philippine’s Department of Trade and Industry (DTI) has stated that it expects San Miguel Corp’s recent acquisition of a majority stake in Holcim Philippines to result in lower prices of locally-produced cement. "We can expect more synergies in their operations, more economies of scale which will hopefully bring down their cost, prices. But we still expect some segmentation of the market because we all know that the Eagle brand is always lower than Holcim. Just like in any industry, d... |
LafargeHolcim signs agreement to sell Philippine operations10 May 2019, Published under Cement NewsLafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the divestment of its operations in Indonesia, Malaysia, Singapore and the Philippines, it has exited the... |
Republic Cement launches Kapit-Balay masonry cement08 May 2019, Published under Cement NewsPhilippine cement producer Republic Cement introduced its Kapit-Balay masonry cement to the market at its Partners’ Night at the Maayo Hotel, Mandaue City, Cebu. Kapit-Balay cement is a Type S high-strength masonry cement optimised for ease of application and adhesion. It is suitable for plastering, brick or block laying and filling. With a lower clinker-to-cement ratio due to its light micro-materials, its production delivers a cement with a lower carbon footprint. |
Eagle Cement Corp achieve PHP1.59bn net profit in 1Q1907 May 2019, Published under Cement NewsEagle Cement Corp reported a net profit of PHP1.59bn (US$30.6m) in 1Q19. This was a rise of 49 per cent YoY driven by a double-digit growth in sales volumes and higher cement selling prices. Eagle Cement's net sales in the first quarter amounted to PHP5.37bn, up by 34 per cent in the same period last year, the company told the Philippine Stock Exchange. The "strong domestic demand driven by private consumption," the report said. Net income margin improved to 30 per cent from around... |