Cement News tagged under: philippines
Holcim Philippines sees surge in full-year net profit28 February 2013, Published under Cement NewsHolcim Philippines has reported an 80 per cent YoY rise in net profit as it gains from improvements in operating and process efficiencies as well as a strong rebound in local demand. Net profit for the 12 months to the end of December 2012 climbed to PHP3.63bn from PHP2.03bn the year before. Revenues also rose 25.62 per cent from PHP21.62bn to PHP27.16bn. The company’s chief executive officer Eduardo Sahagun said that 2012 was one of the domestic industry’s best years, as overall growt... |
The Philippines: Southeast Asia Cement reports eightfold profit growth in 201212 February 2013, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) grew its profits by more than eightfold last year, the company said. "The board of directors approved the separate audited financial statements of the corporation for the fiscal year ended 31 December 2012, showing a profit for the year of PHP3753m (US$92.2m) for the parent company," Seacem said. Last year's profits are a big jump from the PHP449m earned in 2011, the company said in an e-mail yesterday when sought for details. Seacem became a ... |
Philippines: strong cement sales expected in 201308 January 2013, Published under Cement NewsThe Philippine cement sector is looking forward to higher sales this year as private sector projects and increased government spending on infrastructure are expected to continue driving drive demand. “2013 is going to be a strong year for sales,” Ernesto Ordoñez, president of the Cement Manufacturers’ Association of the Philippines told the Philippine Star. Mr Ordoñez said that higher sales would be supported by the government’s plan to spend more for infrastructure projects. “Th... |
Holcim sells stake in power generation subsidiary, Philippines04 January 2013, Published under Cement NewsTrans-Asia Oil and Energy Development Corp (TA Oil) has acquired the stake of partner Holcim Philippines Inc in a power plant in Bulacan province. In a disclosure to the Philippine Stock Exchange, TA Oil said that it "signed a share purchase agreement for the purchase by Trans-Asia of Holcim's 50 per cent stake in Trans-Asia Power Generation Corporation." The deal gives Trans-Asia full ownership of the power firm. Prior to the conclusion of this transaction, Holcim was in a joint ventu... |
Holcim: October ‘1209 November 2012, Published under Cement NewsHolcim is planning a considerable investment in modernising its Volsk works in Russia, which is currently using a wet process production system. Work is expected to start during the second quarter of 2013 and completion is scheduled for the third quarter of 2016. An official announcement about the exact plans is expected fairly shortly. Holcim Hungary is to close its Labatlan works next year. Closure had previously been deferred until 2016, with a new works to be commissioned by then. The... |
Cemex: October ‘1209 November 2012, Published under Cement NewsDuring the first nine months of the year, Cemex' turnover came off by 2.1% to US$11,273.8m, but the EBITDA did improve by 9.0% to US$2,003.2m. The trading profit rose by 37.8% to US$1,921.8m and the net interest charge increased by 3.7% to US$1,044.8m. After taking losses on financial instruments and other non-trading items into account, the pre-tax loss, which had jumped by 113.2% a year earlier, fell by 74.7% to US$174.3m. The net attributable loss dropped by 64.8% to US$419.7m. The net d... |
Lafarge: October ‘1209 November 2012, Published under Cement NewsLafarge hopes to increase the cement capacity at Lafarge Republic Cement in the Philippines by 1Mt by the early part of 2013 thanks to investments at its Danao grinding centre on Cebu and also at the Norzagaray grinding centre in Bulacan province on Luzon. |
Holcim Philippines to boost cement capacity31 October 2012, Published under Cement NewsHolcim Philippines has announced that it is planning to invest US$350m-450m in a new 2Mta cement plant to meet long term domestic market needs. Speaking at a press briefing, Holcim Philippines COO Roland van Wijnen said that the company has been in the process of increasing its capacity in line with recent strong gains in local consumption. It has begun reactivating its idle facilities beginning with its terminal in Calaca, Batangas last year and its grinding plant in Mabini will be operati... |
Philippine nine-month cement sales surge24 October 2012, Published under Cement NewsPhilippine cement sales increased 20 per cent in the first nine months of 2012, the first time such a high growth rate has been achieved for nearly 20 years. Figures from the Cement Manufacturers Association of the Philippines (CeMAP) show that between Jan-Sept 2012, cement sales reached 13.9Mt against 11.6Mt recorded in the same period last year. CeMAP president Ernesto M. Ordonez told reporters the growth was largely fueled by the strong infrastructure expenditures of the Aquino ad... |
Seacem in voluntary buy back offer, Philippines09 October 2012, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) is launching a voluntary tender offer to buy back up to 93 percent of its shares in exchange for a mix of shares in its majority-owned subsidiary Lafarge Republic Inc. (LRI) and cash. Based on its disclosure to the Philippine Stock Exchange (PSE) on Monday, the board of Seacem approved the buyback of a total of 989.34 million shares in exchange for Seacem’s shares in LRI at an exchange ratio of 3.73 Seacem shares for every one LRI common shar... |