Cement News tagged under: Philippines
Eagle Cement majority stake to San Miguel05 October 2022, Published under Cement NewsSan Miguel Corp (SMC) is to acquire an 88.5 per cent stake in Eagle Cement Corp , reports GMA News. SMC said its boards of directors authorised the management of the corporation to “negotiate and enter into a share purchase agreement with the selling shareholders.” The selling shareholders of Eagle Cement include Ramon Ang, John Paul Ang, Monica Ang, and Far East Holdings Inc (FEHI), the latter of which is majority owned by Ramon Ang. The approved acquisition price is reportedly PHP22.0... |
Holcim supports waste recycling in Philippines29 September 2022, Published under Cement NewsHolcim Philippines Inc and its waste management unit, Geocycle, pledged to support the municipalities of Binangonan, Cainta and Taytay in Rizal in managing their waste sustainably by converting it into low-carbon alternative fuels for cement production. The company has agreed with the three municipalities that the latter will transport up to 650tpa of non-hazardous and non-recyclable residual wastes (including plastics, laminates, textiles and rubber) to Holcim’s Bulacan plant for pre- a... |
CEMEX supplies longest bridge in the Philippines08 September 2022, Published under Cement NewsCEMEX has announced that it was the sole supplier of cement for the construction of the longest bridge in the Philippines. The company supplied nearly 70,000t of cement for the construction of the Cebu-Cordova Link Expressway (CCLEX), which was inaugurated in April this year. CCLEX connects Cebu City to the municipality of Cordova on Mactan Island and spans a total of 8.9km, standing on twin tower pylons reaching 145m in height. The bridge, which cost PHP33bn (US$577.8m) to construct, i... |
Holcim Philippines sees net profit slump in 1H2212 August 2022, Published under Cement NewsHolcim Philippines Inc has reported revenue of PHP12.2bn (US$219.2m) in the first half of 2022, down from PHP13.7bn in the same period a year earlier. EBITDA has declined from PHP3.2bn to PHP2.1bn over the same period, with net profit falling from PHP1.6bn to PHP661m. In the second quarter, ended 30 June 2022, revenue came in at PHP5.4bn, compared to PHP6.9bn in the 2Q21. Operating EBITDA slipped from PHP1.4bn to PHP1.1bn, and net profit slumped from PHP721m to PHP240m. The company has... |
Eagle Cement posts increase in net sales in 1H2209 August 2022, Published under Cement NewsIn the first half of 2022, Philippines-based Eagle Cement Corp saw its net sales advance to PHP13,680m (US$246m), compared to PHP11,057m in the same period a year earlier. EBITDA in the 1H22 came in at PHP4132m, marking a 13 per cent YoY decline. EBIT was down 16 per cent to PHP3501m over the same period, while net income contracted by 20 per cent to PHP2966m. The cost of goods sold in the 1H22 stood at PHP8856m, up 49 per cent from the PHP5934m seen in the 1H21, while operating expenses e... |
CEMEX gives Solid Cement expansion project update22 July 2022, Published under Cement NewsCEMEX Philippines is building a US$356m new integrated cement line in its Solid Cement plant in Antipolo City, Rizal, Philippines, to raise the plant’s annual capacity by 1.5Mta to 3.4Mt, and position itself to supply more for the nation’s infrastructure programmes and building needs. CEMEX Philippines President and CEO, Luis Franco, said that “this expansion project will not only meet infrastructure needs, but will also increase the growth and development opportunities in the com... |
Holcim participates in coastal clean-up programme08 July 2022, Published under Cement NewsHolcim and One Earth One Ocean have launched the Circular Explorer in Manila to be part of cleaning coastal areas in the Philippines. The first-of-its-kind 100 per cent solar powered catamaran, the Circular Explorer is designed to recover up to 4tpd of plastic waste to preserve vital marine ecosystems in a sustainable way. In parallel, it is driving an education programme to empower students and local communities as changemakers to take action for people and the planet. Taking a s... |
Vietnam continues to dominate imports in the Philippines07 June 2022, Published under Cement NewsVietnam’s dominance of cement imports in the Philippines continues to cause concern for local producers. With local demand expected to reach 66Mt in 2025, the Cement Manufacturers Association of the Philippines (CeMAP) has revealed data showing that Vietnamese cement accounts for the bulk of cement imports while deliveries from the rest of the world continue to shrink, according to the Manila Bulletin. In 2021 the Philippines imported 7.107Mt of cement, of which Vietnam accounted for 6.... |
Eagle Cement Corp 1Q net profit slips 3%26 May 2022, Published under Cement NewsPhilippines-based Eagle Cement Corp reported a three per cent decrease in net income to PHP1.66bn (US$31.674m) in the first quarter of 2022 from PHP1.72bn in the equivalent period of 2021. The company’s sales advanced 30 per cent from PHP5.3bn in the 1Q21 to PHP6.83bn in the 1Q22 as historically high quarterly sales volumes combined with higher average cement prices. In addition, its subsidiary Solid North Mineral Corp contributed extra revenue. Gross profit was PHP2.59bn, up 11 per ce... |
Holcim Philippines' net income reaches PHP2.6bn in 202124 March 2022, Published under Cement NewsHolcim Philippines ( Holcim group ) saw higher profits in 2021 as it shielded margins from higher costs by raising prices. Holcim Philippines President and CEO, Horia Adrian, said ‘cost mindfulness’ and a tighter focus on operations and innovation would protect the company’s bottomline through 2021. The company underscored growth last year despite challenges arising from lower demand during the pandemic and the surge in costs of energy and fuel that were key inputs in the production ... |