Eagle Cement Corp to consolidate raw material supply chain

The board of Philippines-based Eagle Cement Corp has approved the 100 per cent purchase of affiliate limestone quarrying firm, Solid North Mineral Corp (SNMC), in a PHP3.57bn (US$69.95m) deal.

SNMC is currently majority-owned by Ramon S Ang, chairman of Eagle Cement. The move is expected to consolidate its raw material supply chain.