Cement News tagged under: Cemex Holdings Philippines Inc

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Cemex Philippines reports 9M net profit

29 October 2019, Published under Cement News

Cemex Holdings Philippines Inc posted a net income of PHP875m (US$17.1m) in the first nine months of 2019, a reversal from the 9M18 loss of PHP663m as operating margins increased, income tax expenses were lower and the company gained in its foreign exchange transactions. Nine-month sales were up two per cent in 2019 to PHP18.2bn, said the company in a stock exchange filing. Domestic volumes declined six per cent in the 3Q19 due to a fall in construction activity, mainly in the public secto...

Cemex Philippines begins US$250m stock rights offering

21 October 2019, Published under Cement News

Cemex Holdings Philippines Inc has started the process for its planned US$250m stock rights offering, hoping to finalise it within 1Q20. The Philippine Stock Exchange (PSE) was informed of the stock rights offering on 18 October. The move was made following the approval of stockholders to increase the company’s authorised capital stock last week. "CHP expects to disclose the terms and conditions of the SRO on a later date as is standard for these types of transactions," said Cemex Holdings ...

Cemex Holdings Philippines receives approval for rights issue

04 September 2019, Published under Cement News

Cemex Holdings Philippines has received board approval for a share sale to existing investors, with a final issue size up to the value of US$250m. The increase in authorised capital stock, followed by an equity deal, is reportedly the best option to improve its capital structure, provide balance sheet flexibility and fund the ongoing expansion of its Solid Cement plant in Antipolo, Rizal, according to the Philippine Inquirer.

Cemex Holdings Philippines reports improvement in 1H19

29 July 2019, Published under Cement News

Cemex Holdings Philippines (CHP) saw a significant improvement in net profit for the first six months of 2019, reversing its previous PHP582m (US$11.39m) net loss to a PHP802m profit. Net sales increased four per cent during the 1H19 to PHP12.4bn, on the back of a six per cent rise in cement prices. In the second quarter alone, sales were up two per cent YoY to PHP6.1bn. However, domestic cement volumes fell two per cent due to a slowdown in construction activity. “During the first six m...

Cemex Holding Philippines plans SRO

08 April 2019, Published under Cement News

Cemex Holdings Philippines Inc plans to increase its capital stock by more than triple to raise finds through a potential stocks rights offering (SRO). "Cemex Holdings became one of the most actively-traded stock (last week) after it disclosed its plan to increase its authorised capital to enable itself to raise finds via SROs or other fund-raising option," said Jervin S de Celis of Timson Securities. Cemex is aiming to raise up to US$250m to improve its capital structure, provide flexibil...

Solid Cement Corp has BOI approval as a new manufacturer

31 January 2019, Published under Cement News

Cemex Holdings Philippines has secured board of investment approval for its Solid Cement Corp subsidiary to become a new cement producing company. Solid Cement had 'pioneer status' for its Antipolo City production line, but with non-pioneer incentives. The non-pioneer incentive meant that Solid Cement was exempt from paying income tax for four years from the start of commencing commercial operations. Solid Cement is currently planning to expand its production line to 3.4Mta.

Cemex to invest US$235m in Philippine expansion

19 October 2018, Published under Cement News

Cemex Holdings Philippines plans to expand capacity at its subsidiary’s facility in Antipolo City, Rizal, at an estimated investment cost of US$235m. Solid Cement Corp has signed project agreements with China’s CBMI Construction Co Ltd for the procurement, construction and installation of the new line, according to a disclosure to the stock exchange. The project is expected to increase capacity by 1.5Mta, boosting Cemex’s total capacity in the country by 26 per cent. Currently, Solid Cemen...

Cemex allocates PHP3bn towards start of Solid Cement's expansion

07 June 2018, Published under Cement News

Cemex Holdings Philippines Inc has allocated PHP3bn (US$57.1m) this year towards building its new production line at its Antipolo cement factory in Rizal. Cemex Holdings Philippines is investing a total of US$225m for the Solid Cement expansion project. The new line will expand Solid Cement’s capacity from 1.9Mta to 3.4Mta.

 "Specific to the Solid Cement plant expansion – PHP2.5bn to PHP3bn this year," said Cemex Holdings Philippines president and CEO, Ignacio Mijares, at a stockholders ...

APO Cement Corp signs waste heat agreement with Sinoma Energy Conservation

29 March 2017, Published under Cement News

Cemex Holdings Philippines Inc subsidiary APO Cement Corp has signed an agreement with Sinoma Energy Conservation Ltd. of China to build and operate a 4.5MW waste-heat-to-energy (WHTE) facility in Naga, Cebu. This technology is expected to generate 25,000MW hours annually. The facility is expected to mitigate the negative effects of power service interruptions, help reduce dependence on high-cost power sources, and reduce the cement plant’s carbon footprint, the company said. "Promoting en...