Cement News tagged under: Aboitiz Equity Ventures

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Republic Cement outlines capacity development plans

23 June 2017, Published under Cement News

Philippine-based Republic Cement group, a joint venture between CRH and local conglomerate Aboitiz Equity Ventures, has announced plans to invest an initial US$300m for its capacity development activities, the Manila Bulletin reports. The first phase of these activities, targeted for completion by 2019, focuses on increasing the capacity of all its integrated plants in Luzon and Mindanao, both in terms of milling and clinker production, to increase cement capacity by 3Mta.  Moreover, iimpro...

Aboitiz secures loan to part-fund cement venture

25 August 2015, Published under Cement News

Aboitiz Equity Ventures, Inc. (AEV) has signed an agreement for a US$400m (PHP18.7bn) loan that will partly finance its venture into the cement sector in the Philippines. In a disclosure to the stock exchange dated 20 August 2015, AEV said it "signed a facility agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd to obtain a bridge loan" of up to US$400m. "The proceeds of the loan will be used to partially finance AEV's investment in holding companies for the purpose of the acquisitio...

Aboitiz Equity to invest in Philippine venture

22 July 2015, Published under Cement News

Aboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ...

Aboitiz plans to buy Lafarge Philippines assets

15 May 2015, Published under Cement News

Philippine conglomerate Aboitiz Equity Ventures Inc said on Friday it had signed an agreement for a possible acquisition of Lafarge's local cement operations in partnership with CRH Plc. CRH had earlier agreed to buy for EUR6.5bn cement assets from Lafarge and Holcim Ltd., whose asset divestments are part of preconditions to winning regulatory approval for their merger. Both Lafarge and Holcim have cement assets in the Philippines. Aboitiz, which has investments in power generation and ban...