Cement News tagged under: Philippines
Holcim Philippines sees 43% fall in net profit03 March 2021, Published under Cement NewsHolcim Philippines has reported a 42.5 per cent decline in net profit to PHP2.07bn (US$42.72m) for 2020, alongside a 22.3 per cent YoY fall in sales to PHP26.02bn from PHP33.49bn in 2019. "Lockdowns from March to May and severe weather conditions in the fourth quarter further affected the business. These hampered delivery of raw materials and services to production sites and dispatch of products to customers," said the company in a statement. The company's EBITDA was down by 38.6 per cent... |
Holcim Philippines appoints new CEO25 February 2021, Published under Cement NewsHolcim Philippines has appointed Horia Ciprian Adrian as its president and CEO, following the departure of John Stull who has led the company for three years. The appointment will be effective from 1 March. "It is an honour to be appointed as the new President and CEO of Holcim Philippines. The business in the Philippines is a significant contributor to the LafargeHolcim Group and it is truly exciting to continue the remarkable work done under John's leadership," said Mr Adrian. He has p... |
Cemex Philippines resets opening date for Antipolo plant24 February 2021, Published under Cement NewsCemex Philippines is postponing the opening of its new integrated cement plant in Antipolo City to January 2022. The original target date for completion of the project was December 2020. The US$265m kiln line will have a cement capacity of 1.5Mta. "Accordingly, the four-year income tax holiday period applicable to this project shall be reckoned from January 2022 or the actual start of commercial operations, whichever is earlier," the company said. |
Cemex Philippines records net income of PHP98m in 202016 February 2021, Published under Cement NewsCemex Holdings Philippines Inc reported a 23 per cent weaker net income of PHP985m (US$20.54m) in 2020 from PHP1.3bn in 2019, as the coronavirus impacted its operating earnings. The listed company’s consolidated net sales also dropped by 16 per cent last year to PHP19.7bn from PHP23.6bn in the previous year. The COVID-19 pandemic slumped the firm’s domestic cement volumes by 11 per cent YoY in 2020, while its domestic cement volumes in the fourth quarter shed nine per cent YoY due to advers... |
New director elected to San Miguel board22 January 2021, Published under Cement NewsJohn Paul Ang has been elected as a director of Philippines-based San Miguel Corp, filling the board vacancy left after Reynaldo David passed away last year. Mr Ang is currently the president and CEO of Eagle Cement Corp, which is owned by the Ang family. "He brings with him years of top managerial experience in the cement industry in the Philippines and in Malaysia, beginning with experience of business operations to top-level management decision making. The experience allowed him to be... |
Cemex Philippines' US$235m project reaches milestone20 January 2021, Published under Cement NewsCemex Philippines' US$235m project has reached a milestone as the company has lifted the rotary kiln into place for its new line. Upon completion, the 1.5Mta expansion at Solid Cement will raise capacity to 3.4Mta. "This milestone demonstrates our full commitment to the development of the country and brings us closer to further strengthening our position in providing the infrastructure and building needs for economic development," said Ignacio Mijares, CEO and president, Cemex Holdings Ph... |
Vietnam sees exports rise 14% in 202020 January 2021, Published under Cement NewsVietnam exported over 3.6Mt of cement and clinker worth US$135m in December 2020, up 15.3 per cent MoM in volume and 10.8 per cent YoY in value, according to the General Department of Customs. During the full year, the country earned US$1.43bn from exporting 38.4Mt of such products, up 3.2 per cent and 13.7 per cent YoY, respectively. China was the biggest importer of Vietnamese cement and clinker in 2020, importing 22.2Mt worth US$759.4m, accounting for 57 per cent of the total export... |
Holcim Philippines to invest PHP121.5m in AF resources15 January 2021, Published under Cement NewsHolcim Philippines has allocated PHP121.5m (US$2.5m) of funds to improve its alternative fuels processing facility at its plant in Norzagaray, Bulacan, by 2022. The investment will be used to improve the efficiency of its shredding operations, establish new equipment, and upgrade storage and feeding facilities at the plant. "This investment ensures we can continue being a reliable partner in the country's sustainable development, while also meeting our objectives of making our operatio... |
Philippine government's first testing facility set to open in 3Q2111 January 2021, Published under Cement NewsThe Philippines could see its first government facility to evaluate cement quality begin operations by the 3Q21. Once operational, the unit would allow producers to have their products tested by the government. "Our procurement of equipment is now ongoing, so we can conduct testing by third quarter," said Neil P Catajay, director of the Bureau of Philippine Standards (BPS). Currently, producers have to dispatch their product to private firms, who in turn send the results to the BPS for... |
Philippine Tariff Commission questions DTI's October import duty rise30 December 2020, Published under Cement NewsThe Tariff Commission, in the Philippines, has questioned the decision of the Department of Trade and Industry (DTI) to increase the definitive safeguard duty on imported cement by PHP0.80 to PHP9.80/40kg bag (US$0.016-0.23/40kg bag) starting in October 2020. Ernesto Albano said the three-year schedule of safeguard tariff implementation should be followed according to the law. The safeguard tariff was supposed to drop from PHP10/40kg bag in the first year of implementation to PHP9/bag in ... |