Cement News tagged under: philippines
Republic Cement to increase capacity by up to 25%11 November 2019, Published under Cement NewsPhilippines-based Republic Cement has announced plans to expand capacity by up to 25 per cent next year on the back of increased demand for cement products. "Our capacity is hovering around 7.5Mta. We will increase it by close to 25 per cent by next year," said Nabil Francis, president, Republic Cement. The president of the company added that the plans were a reaction to the government’s call to reduce dependence on imports. "The local industry needs to continue to invest and to modernis... |
Cemex Philippines reports 9M net profit29 October 2019, Published under Cement NewsCemex Holdings Philippines Inc posted a net income of PHP875m (US$17.1m) in the first nine months of 2019, a reversal from the 9M18 loss of PHP663m as operating margins increased, income tax expenses were lower and the company gained in its foreign exchange transactions. Nine-month sales were up two per cent in 2019 to PHP18.2bn, said the company in a stock exchange filing. Domestic volumes declined six per cent in the 3Q19 due to a fall in construction activity, mainly in the public secto... |
Higher prices ensure Holcim Philippines receives better 9M19 earnings28 October 2019, Published under Cement NewsIn a disclosure to the Philippine Stock Exchange, Holcim Philippines Inc said EBITDA almost doubled in the 9M19 to PHP1.2bn (US$23.4m) on cost improvements across all its operations coupled with better prices of cement and aggregates. Net income for the third quarter surged to PHP457.2m from PHP176.9m in the same period of the previous year. However, sales volumes were still lower than the third quarter of 2018 despite improved pricing resulting in lower net sales of PHP8.3bn from PHP8.5bn ... |
Cemex Philippines begins US$250m stock rights offering21 October 2019, Published under Cement NewsCemex Holdings Philippines Inc has started the process for its planned US$250m stock rights offering, hoping to finalise it within 1Q20. The Philippine Stock Exchange (PSE) was informed of the stock rights offering on 18 October. The move was made following the approval of stockholders to increase the company’s authorised capital stock last week. "CHP expects to disclose the terms and conditions of the SRO on a later date as is standard for these types of transactions," said Cemex Holdings ... |
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... |
Holcim Philippines inaugurates new facilities at Bulacan unit24 September 2019, Published under Cement NewsHolcim Philippines has inaugurated new storage and loading facilities at its plant in Norzagaray, Bulacan, which it hopes will help boost production. The additions include a new warehouse with six loading bays and new packing and loading machines. "This is the third site we are holding inauguration activities at this year as our company continues investments to strengthen our ability to support our customers nationwide," said John Stull, CEO, Holcim Philippines. "This is part of our greate... |
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... |
Premiere-Slag International to receive investment for plant project11 September 2019, Published under Cement NewsPhilippine-based AbaCore Capital Holdings Inc has announced a plan to invest up to PHP102m (US$1.9m) in Premiere-Slag International Inc to build and operate a cement plant. In a disclosure on Monday, the holding company said the investment translated to a maximum of a 10 per cent stake in Premiere-Slag, which "will operate a production facility to process and sell cement, or cement mixed with components." The unit is expected to be constructed on a 30,117m 2 site in Mabini town, Batanga... |
San Miguel's acquisition of Holcim Philippines undergoes further review09 September 2019, Published under Cement NewsThe Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ... |
APO Cement agrees to change truck delivery times06 September 2019, Published under Cement NewsCemex Philippines' APO Cement plant has agreed to stop the movement of its delivery trucks during peak hours of the day to help address the traffic problem in Naga City, according to Gwendolyn F Garcia, Cebu Governor. The cement producer agreed to change its routines following a meeting when it was decided Cemex could adjust transport operations between 07.00-09.00hrs and 13.00-19.00hrs to avoid obstructing traffic along the national highway. "I said we've been having so many meetings… and... |