Cement News tagged under: philippines
Holcim Philippines to tap debt market27 May 2013, Published under Cement NewsHolcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from internally generated income while the bulk will come from the debt market, most likely from local sources. The company will decide how much to raise during the fourth quarter of this year. “We have no debt at the... |
San Miguel Corp outlines expansion plans, Philippines24 May 2013, Published under Cement NewsIndustrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president, Ramon S Ang, some US$250m will be used to increase capacity of NCC’s Pangasinan plant, while another US$250m will be used to build a new plant in Southern Luzon. The remaining $250m will be utilised for the new plant in the province of Cebu. "SMC plans to put up more cement ... |
DTI requests further information on Philippine pricing06 May 2013, Published under Cement NewsPhilippine cement producers have until next week to provide the Department of Trade and Industry (DTI) with further information explaining reasons behind their higher selling prices. Last month the DTI asked Holcim Philippines, Lafarge Republic Inc, Cemex Philippines and Eagle Cement Corp to explain why cement is being sold above the recommended retail price of PHP205-PHP210/bag. Trade undersecretary Zenaida Maglaya has since told The Philippine Star that while three of the four cement... |
Waste processing facility launched, Philippines23 April 2013, Published under Cement NewsThe Mundo Verde Corporation, in partnership with the Quezon local government, has officially launched a waste processing facility in Payatas, Quezon City, to turn municipal waste into fuel for use in some of Lafarge Republic’s Inc’s cement facilities. The Mundo Verde Corp consortium comprises Lafarge Industrial Ecology International SA; landfill operator IPM Environmental Services, Inc. (IPM- ESI); waste management consultancy Basic Environmental Systems & Technologies, Inc. (BEST); as ... |
Philippine cement sales rise 3.4% in 1Q1322 April 2013, Published under Cement NewsPhilippine cement sales in the first quarter of 2013 rose 3.4 per cent YoY to 4.787Mt, according to the head of the Cement Manufacturers Association of the Philippines. First-quarter cement sales were also up from the fourth quarter sales of 4.409Mt, CeMAP President Ernesto M. Ordoñez, told the Business Recorder. Filipino cement demand recovered in 2012 from its “slump” in 2011 when the market barely expanded. Last year, consumption grew by 10 per cent YoY to 17.19Mt. The construction... |
Philippine producers seek incentives on expansion15 April 2013, Published under Cement NewsPhilippine cement manufacturers are seeking incentives with the Board of Investments for new capacity projects, as local producers seek to meet expected increases in cement demand. The Cement Manufacturers Association of the Philippines (CeMAP) has petitioned the BOI for the inclusion of the industry in the 2013 Investment Priorities Plan (IPP) to be eligible for government perks, particularly the income tax holiday which could exempt them from paying income tax for a maximum of eight ye... |
DTI probes Philippine cement price hike09 April 2013, Published under Cement NewsThe Department of Trade and Industry (DTI) has asked Philippine cement manufacturers to explain why prices have risen from a year ago and are above the suggested retail price (SRP). Trade undersecretary Zenaida Maglaya cited Holcim Philippines Inc which has raised its selling price to PHP218/bag (US$5.3) from PHP195 (US$4.7) last year. Similarly, Lafarge Republic and Cemex both raised their selling prices to PHP220/bag from PHP205 and PHP195/bag, respectively, Maglaya told reporters afte... |
Seacem sells entire stake in Lafarge Republic, Philippines02 April 2013, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) has sold its entire stake in listed affiliate Lafarge Republic Inc worth PHP11.32bn (US$227.9m). The stake has been sold as part of the company's bid to raise cash and improve the firm's financial position amid the likely entry of a new investor, Seacem said in a disclosure. |
Lafarge to reopen revamped Danao plant, Philippines21 March 2013, Published under Cement NewsLafarge Republic is to reopen its facility in Dano, Cebu, in the Philippines as part of the company’s drive to raise output due to increasing domestic sales. “The revamped plant in Danao City is one of several capacity expansion projects being undertaken by LRI to respond to the growing demand for building materials and the order backlog of construction projects of the leading construction companies.” Lafarge Republic said in a disclosure to the Philippine Stock Exchange. The plant wil... |
Seacem sells 4.3 per cent in Lafarge Republic, Philippines08 March 2013, Published under Cement NewsSoutheast Asia Cement Holdings, Inc (Seacem) has sold around four per cent of its stake in affiliate Lafarge Republic, Inc. "Seacem has... sold 50 million of its shares of stock of Lafarge Republic, or 4.3 per cent of Seacem's total Lafarge Republic shares, to the public consisting mostly of institutional investors," Seacem said in a disclosure yesterday. |