Philippine government spending fuels Holcim sales
The Philippine cement industry is feeling the effects of higher public works spending by the Aquino administration, with Holcim Philippines seeing a slower decline in sales of six per cent.
The improved infrastructure disbursements in the third quarter “would have pushed up monthly volumes had it not been for the typhoons," said Holcim Philippines COO Roland van Wijnen.
“The increased implementation of government projects in the third quarter bodes well for the company and the industry in general," Van Winjen said.
Holcim sales in the first six months slipped by nine per cent, which translates to a sales decline of PHP951.57m after the Aquino administration spent PHP89.96bn less than it did last year.
According to Holcim, “government has traditionally accounted for roughly half of total cement demand, which is why the lower infrastructure spending had such an impact on the industry." Published under Cement News
