Cement News tagged under: Phinma Corp
PHINMA Corp to acquire Petra Cement for PHP500m22 May 2024, Published under Cement NewsPhilippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under its legacy brand, Union Cement," PHINMA Corp. said. The acquisition follows the manufacturing and s... |
Phinma to invest in PHP2bn Davao plant02 May 2024, Published under Cement NewsPhilippines-based Phinma Corp plans to invest approximately PHP2bn (US$34.7m) in a new cement plant in Davao to further consolidate its presence in the cement market. "We’re putting up our Davao plant which is almost similar to Mariveles plant. That is in joint venture with some of our partners in Davao,” Philcement Corp President and CEO, Eduardo Sahagun, said. “That will bring our total capacity to somewhere like 5Mta if all those things will be completed in a couple of years,” he added.... |
PhilCement Corp inaugurates Bataan facilities20 January 2020, Published under Cement NewsPhinma-Corp subsidiary PhilCement Corp has inaugurated its first state-of-the-art cement and port terminal at the Freeport Area of Bataan, Philippines. Located on a 1.9ha plot the 2Mta facility represents an investment of PHP1bn (US$19.6m). “We want to contribute what we can in nation building to making lives better," PHINMA President and COO, Ramon del Rosario, said. |
Bataan terminal to open before year-end03 October 2019, Published under Cement NewsPhinma Corp subsidiary Philcement Corp has stated that its PHP800m (US$15.4m) cement terminal in Bataan will be opened before the end of the year. Phinma is using Philcement as its vehicle for its cement industry comeback in a move to contribute significantly to the growing demand for reliable and quality cement and construction materials in the Philippines. Philcement President and Chief Executive Officer, Eduardo Sahagun, said the new terminal, "will be a meaningful part of Phinma’s... |
Phinma Corp set to invest in Vietnam's Song Lam Cement20 September 2019, Published under Cement NewsPhilippine-based Phinma Corp is set to invest in Vietnam’s Song Lam Cement JSC through the acquisition of preferred shares worth PHP2.6bn (US$50m). Song Lam will now become a major supplier of PhilCement Corp, which is 60 per cent owned by Phinma, according to a company disclosure. Following the investment, Phinma will be entitled to nominate one member of Song Lam’s board of directors and the chief financial officer of the company. In the 1H19 Phinma saw its consolidated net income inc... |
PhilCement obtains loan to build terminal05 June 2018, Published under Cement NewsPhilippines-based Phinma Corp has announced that its cement trading unit secured a PHP875m (US$16.69m) loan to construct a new cement terminal. "The loan will be used for the construction of the cement terminal that will be located in Mariveles, Bataan," said Phinma in a statement. PhilCement Corp signed the five-year fixed-term loan agreement with Security Bank on 1 June, according to Business World. Phinma recently reported its consolidated net income rose 37 per cent YoY to PHP66.... |
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