Republic Cement optimistic

Republic Cement optimistic
Published: 18 June 2004

Republic Cement Corp. hopes to top profits in 2003 with an expected increase in cement sales this year. In the recent annual stockholders’ meeting, President and Chief Executive Juan Miguel R Montinola said the proclamation of a new president on June 30 will help the company surpass last year’s profit as this will convince investors to go on with their projects. However, he said the challenge remains for Republic Cement to curb the increasing costs of energy for power and coal, whose prices have soared due to high demand and reduced supply from China. "Greater usage of alternative fuels will be one of the challenges for 2004," Mr. Montinola said.