Cement News tagged under: philippines
Republic Cement and Nestlé expand green cooperation24 March 2020, Published under Cement NewsRepublic Cement and Nestlé Philippines will be expanding their Plastic Neutrality Initiative to further reduce plastic waste in the country as the cement producer will co-process soft plastic waste of Nestlé in its kilns. “Republic Cement is happy to be working with Nestlé in their push to becoming plastic-neutral. This partnership likewise allows us to do more as we promote the use of alternative fuel to further embed sustainability in our operations,” said Republic Cement President and CE... |
Holcim, Cemex suspend Luzon output23 March 2020, Published under Cement NewsHolcim and Cemex have suspended production at their operations in Luzon, the Philippines, to comply with social distancing and quarantine measures put in place by the country’s government to address the coronavirus pandemic. Holcim has suspended plant, terminal and office operations with measures covering the Bacnotan, La Union, Norzagaray and Bulacan cement plants. The company’s terminals in Calaca, Mabini, Manila and Batangas as well as the dry-mix plant in Paranaque will no longer disp... |
Holcim Philippines posts 41% net income advance in 201903 March 2020, Published under Cement NewsHolcim Philippines achieved a revenue of PHP33.5bn (US$660.4m) in 2019 despite a slow first half in terms of construction activity. However, the company’s operating EBITDA increased 36.7 per cent YoY to PHP6.7bn in 2019 from PHP4.9bn in 2018 as the company benefitted from initiatives to raise efficiencies and improve costs across the board. The rise was further supported by a more favourable product mix and the stable contribution of its aggregates business. The company’s full-year net in... |
AbaCore Capital signs joint venture agreement for cement project14 February 2020, Published under Cement NewsPhilippines-based AbaCore Capital Holdings Inc has received approval for a joint venture agreement with Honghui Pioneer S-Cement International Inc, which will facilitate the development and operation of a new cement plant. Omnilines Energy International Network, a subsidiary of AbaCore Capital, is therefore set to invest PHP1bn (US$19.8m) to establish a cement plant and silo project with Honghui. At the same time, AbaCore has acquired up to 10 per cent of Honghui’s authorised capital stock. |
Cemex Holdings Philippines raises PHP12.7bn from SRO31 January 2020, Published under Cement NewsCemex Holdings Philippines completed a stock rights offering last week, raising PHP12.77bn (US$250.6m) from selling 8.29bn common shares. The proceeds are expected to be used to fund Solid Cement’s Antipolo expansion project and pay outstanding debt. "Post-SRO and subject to the approval from the Securities and Exchange Commission (SEC) of Cemex’s application for increase of authorised capital stock, Cemex would have a total of issued and outstanding 13,489,226,623 common shares," said ... |
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. |
Cemex Holdings Philippines plans new share sale16 December 2019, Published under Cement NewsThe Philippine Stock Exchange has approved Cemex Holdings Philippines’ plan to raise as much as PHP12.6bn (US$250m) from the sale of new shares to existing investors. The company is expected to price its rights offering on 6 January 2020 and launch the offer from 20-24 January next year. Listing of the new shares is tentatively set for 4 March 2020. The new shares will come from an increase in Cemex Philippines’ authorised capital stock from PHP5.195bn to PHP18.31bn, consisting of 18.3... |
San Miguel Corp to use biodegradable cement packaging18 November 2019, Published under Cement NewsSan Miguel Corp is set to become the first company to use fully-certified biodegradable plastic packaging in the Philippines. It will be initially used for both food and non-food products, such as cement and feed sacks, grocery bags and other single-use plastic packaging. "Initially, we will use it for cement packaging," said Ramon Ang. "What we will use is a biodegradable plastic woven packaging, or sack. This is proudly developed by Filipino inventors, using local materials, and made by l... |
CRH reportedly looks to sell Philippine operations14 November 2019, Published under Cement NewsCRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem... |
Eagle Cement Corp records 35% increase in net profit11 November 2019, Published under Cement NewsPhilippines-based Eagle Cement Corp has recorded a 35 per cent YoY increase in net profit to PHP4.7bn (US$92.3m) for the first nine months of 2019, on the back of higher sales volumes and prices. Net sales in the 9M19 advanced 25 per cent YoY to PHP15.3bn, supported by a 19 per cent increase in sales volumes. “Eagle is poised to deliver double-digit growth towards the remainder of the year, as local demand for cement is expected to remain high in line with the anticipated pickup in const... |