Cement News tagged under: philippines
Eagle Cement records net profit increase in 201807 March 2019, Published under Cement NewsPhilippines-based Eagle Cement Corp has recorded a 13 per cent YoY rise in net profit to PHP4.8bn (US$91.98m) in 2018, on the back of a double-digit expansion in sales volume. Net sales advanced 11 per cent YoY to PHP16.5bn for the full-year period. In the 4Q18, the company’s net income surged 36 per cent YoY to PHP1.3bn while sales increased 19 per cent to a quarterly record of PHP4.3bn. "While we are faced with challenges in the industry, we remain steadfast to expand the company to ... |
Eagle Cement denies reports of Holcim Philippines acquisition05 March 2019, Published under Cement NewsEagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads: "By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the company, expressed on several occasions interest in the assets of Holcim." Holcim Philippines has also... |
Holcim Philippines reports 5% fall in net profit01 March 2019, Published under Cement NewsHolcim Philippines has reported a five per cent fall in 2018 net profit to PHP2.55bn (US$49.3m), compared with PHP2.69bn of the previous year. However, the company also noted a three per cent YoY rise in net sales to PHP35.62bn. EBITDA in 2018 declined 10 per cent to finish at PHP4.89bn. The profit decrease has been attributed to higher interest expenses from short-term loans to fund its ongoing expansion projects. "In 2018, we faced higher production and financing expenses, but we succe... |
Holcim Philippines completes La Union expansion22 February 2019, Published under Cement NewsHolcim Philippines has reported the completion the expansion project at its plant in La Union, Luzon, increasing capacity to 1.8Mta from 1Mta previously. The company completed the installation of new grinding equipment and storage facilities two months ahead of schedule. "With our expansion and efficiency initiatives, we can better provide a reliable supply of high-quality cement to help our partners advance the region's development," said John Stull, Holcim Philippines president and CEO.... |
Solid Cement Corp has BOI approval as a new manufacturer31 January 2019, Published under Cement NewsCemex Holdings Philippines has secured board of investment approval for its Solid Cement Corp subsidiary to become a new cement producing company. Solid Cement had 'pioneer status' for its Antipolo City production line, but with non-pioneer incentives. The non-pioneer incentive meant that Solid Cement was exempt from paying income tax for four years from the start of commencing commercial operations. Solid Cement is currently planning to expand its production line to 3.4Mta. |
LafargeHolcim could seek up to US$2.5bn for its Philippines business28 January 2019, Published under Cement NewsShares of Holcim Philippines have been rising steeply as LafargeHolcim is believed to be considering the sale of its Philippines business unit to further reduce group debt. LafargeHolcim is undergoing a strategic review of its southeast Asian operations following the sale of its Indonesian business. The company could seek a value of US$2.5bn for the assets it holds in the Philippines, according to Bloomberg. LafargeHolcim's CEO, Jan Jenisch, said in May that the company’s southeast Asia bu... |
Safeguard measures placed against imports into Philippines28 January 2019, Published under Cement NewsThe Philippine’s Department of Trade and Industry (DTI) has begun preliminary safeguard measures against cement imports from Vietnam amongst other countries. As such, the DTI applied duties of PHP8.40 (US$0.16)/40kg bag or PHP210/t (US$4/t). The safeguard measures will be in place for 200 days from 18 January 2019. Vietnam was the biggest importer of cement into the Philippines between 2014-17. In the first four months of 2018, cement imports from Vietnam accounted for 75.2 per cent of th... |
Republic Cement to commission two new cement mills in 201924 January 2019, Published under Cement NewsPhilippines-based Republic Cement Services Inc (RCSI) plans to commission two finish mills this year, adding 2Mta to its 7Mta current capacity. The investment is estimated to have cost in the region of US$20m for each finish mill. "This year we will increase our grinding capacity and at the end of this year, we will commission two new finish mills which will somehow give an output of a bit more 50 million bags," said Nabil Francis, president, RCSI. "At the end of this year the total cap... |
Cement price rise concerns Philippine housing developers22 January 2019, Published under Cement NewsHousing developers in the Philippines have become alarmed at the sudden rise in cement prices in the last few weeks. The Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP) and the Socialized Housing Alliance Roundtable Endeavour (SHARE), an association of non-government organisations (NGOs) engaged in housing development, reported that teh hikes in price of the commodity and shortages were of concern. Cement prices for 40kg bags jumped from PHP205 (US$3.87... |
Cement shortage impacts infrastructure projects17 January 2019, Published under Cement NewsThe cement supply shortage in Pangasinan, Philippines, has begun to cause delays in the completion of several infrastructure projects, according to the Manila Bulletin. Gerardo de Guzman, district engineer (Pangasinan 3) at the Department of Public Works and Highways (DPWH) noted his concern regarding that only 80 per cent of the road and school building projects were completed by the end of 2018. Northern Cement, the region’s cement manufacturer, produces 200,000 bags per day, which is no... |