Cement News tagged under: philippines
Philippine quarries set to expand07 September 2015, Published under Cement NewsFour applications for expansion of mining areas have been approved by the Mines and Geosciences Bureau (MGB) since the government relaxed rules in November last year. "We have already approved several area expansions," MGB Director Leo B Jasareno said in a text message over the weekend. Holcim Philippines Inc and its Premier subsidiary are the latest cement producers to have secured approvals for two applications. Holcim’s mineral production sharing agreement (MPSA) in Agno, Pangasinan,... |
Aboitiz secures loan to part-fund cement venture25 August 2015, Published under Cement NewsAboitiz Equity Ventures, Inc. (AEV) has signed an agreement for a US$400m (PHP18.7bn) loan that will partly finance its venture into the cement sector in the Philippines. In a disclosure to the stock exchange dated 20 August 2015, AEV said it "signed a facility agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd to obtain a bridge loan" of up to US$400m. "The proceeds of the loan will be used to partially finance AEV's investment in holding companies for the purpose of the acquisitio... |
Holcim Philippines' strong 2Q results13 August 2015, Published under Cement NewsHolcim Philippines Inc's strong sales continued in the second quarter of 2015 as its plants delivered record supplies of cement. Holcim Philippines net sales from April to June rose by 9.7 per cent to PHP9.4bn (US$203m) from PHP8.6bn in the 1Q15. The company’s second-quarter net income improved by 1.6 per cent QoQ to PHP1.5bn due to higher volume and prices. Holcim Philippines President and CEO, Eduardo A Sahagun, said keeping operations steady is important at a time of sustained strong d... |
Philippines: cement sales rise 11% in 1H1529 July 2015, Published under Cement NewsCement sales rose steeply in the first six months of the year behind robust construction activities in the country, the Cement Manufacturers Association of the Philippines (CeMAP) said. CeMAP president, Ernesto Ordoñez, stated total cement sales rose 11.1 per cent to 11.91Mt in the first half of the year from 10.72Mt in the same period in 2014. Ordoñez said construction activity remained strong in the first semester, fuelled primarily by the growing business confidence in the country.... |
Aboitiz Equity to invest in Philippine venture22 July 2015, Published under Cement NewsAboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ... |
Holcim Philippines to make offer for local assets of Lafarge13 July 2015, Published under Cement NewsHolcim Philippines will make an offer to acquire the assets of Lafarge Group in the Philippines as part of the merger process between the two cement majors. In a disclosure to the Philippine Stock Exchange (PSE), the local unit of Swiss firm Holcim Ltd. said it has been given the green light by its board of directors to make an offer for the France-based assets of the Lafarge Group. Specifically, Holcim has been authoriszed to “make an offer for, and should the offer be accepted, to pr... |
Vietnamese producer targets new export markets04 June 2015, Published under Cement NewsLa Hien Cement JSC, a subsidiary of the Vietnam National Coal Mineral Industries Group (Vinacomin), is seeking new export markets in Asia and Africa, an executive of the company said. According to Nguyen Van Dung, Director of the La Hien JSC, the company will seek new markets while securing its traditional markets including Thai Nguyen, Bac Kan and Lang Son provinces, the Vietnam News Agency reported. The company aims to ship its clinker to Bangladesh, the Philippines and a number of natio... |
Cemex01 June 2015, Published under Cement NewsCemex has announced a US$300m investment in the Philippines, the principal element of which will be a new 1.5Mta integrated cement works at its Solid works on Luzon. This would double the capacity at this plant and represent an overall increase in the group’s Philippine production capacity of around one quarter. Earlier this month, Cemex Philippines officially inaugurated the latest expansion of its APO works on Cebu as well as two logistics centres at Visayas and at Mindanao. That represent... |
Ang plans to increase capacity in the Philippines01 June 2015, Published under Cement NewsPhilippine businessman Ramon S Ang plans to expand capacity of his privately-held Eagle Cement Corp as well as construct two new cement plants in the country. In an interview published in the Philippine Star, Ang said the company plans to build two new cement facilities in Cebu and Davao, each with a capacity of 2Mta. He also plans to add a 1Mta line at its existing cement facility in Bulacan. “We are now finishing the second line and preparing to put up a third line. With Eagle... |
Holcim and Lafarge seal binding deal with CRH27 May 2015, Published under Cement NewsLafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ... |