Cement News tagged under: Eagle Cement Corp

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Eagle Cement's net profit rises to US$82m

16 March 2018, Published under Cement News

Philippine-based Eagle Cement Corp increased its net profit last year by four per cent to PHP4.26bn (US$82m) on strong sales volumes. Excluding expenses from its initial public offering, net profit rose by five per cent to PHP4.33bn last year, the company disclosed to the Philippine Stock Exchange on Friday. Eagle Cement reached PHP14.87bn in net sales in 2017, a 12 per cent YoY increase. "We have continued to beat our operational targets in terms of volume growth and cost efficiencies....

Eagle Cement breaks ground on Cebu Line 4

23 November 2017, Published under Cement News

Eagle Cement Corp has broken ground on the fourth production line at its Cebu plant. The Cebu Line 4 is set for completion in 2020 and will include a 2Mta integrated cement plant, port facilities and cement terminals to serve the islands of Visayas and Mindanao. Currently, the company has two lines producing about 5.1Mta of cement and serves the greater Luzon markets. Eagle is also aiming to complete its third production line (2Mta) in Bulacan by 2018, which will raise capacity to 7.1Mta....

Cebu's Board of Investment approve South Western Cement Corp's 2Mta new plant

19 September 2017, Published under Cement News

A new PHP12.5bn (US$245m) cement plant for South Western Cement Corp (SWCC) in Cebu is one of the largest projects approved by the Board of Investments (BOI) in August. The planned 2Mta cement plant wil be completed in two years' time and will serve the Visayas and Mindanao markets. SWCC is a wholly-owned subsidiary of listed firm Eagle Cement Corp. The cement producer owns mineral rights in Malabuyoc, Cebu, reports the Sunstar Cebu. Trade Secretary and BOI Chairman, Ramon Lopez, i...

Eagle Cement secures alliance with construction giant

11 September 2017, Published under Cement News

In anticipation of a massive rise in domestic infrastructure-building, Philippines-based Eagle Cement Corp has entered into a strategic alliance of cement supply with Yuchengco family-led construction firm EEI Corp. The new deal is set to strengthen the existing partnership between the two companies by expanding the list of EEI projects that Eagle will supply cement to, as the Philippines enters what economic managers envision to be a "golden age of infrastructure." "This contract is an...

Eagle Cement orders Loesche coal mill

20 June 2017, Published under Cement News

Eagle Cement Corp of the Philippines has ordered a Loesche vertical roller mill for its plant in Barangay in San Ildefonso, 50km north of the capital city of Manila. The coal mill for line 3 is designed for grinding 54tph of mixed coal or 34tph of petcoke. The scope of supply also includes an LSKS classifier and corresponding filters, blowers, an inertisation unit, the gas analysis and the main drives. All components are to be delivered before the end of the 2017.

Eagle Cement IPO oversubscribed

25 May 2017, Published under Cement News

Eagle Cement Corp's Initial Public Offering (IPO) has been well received, with its initial public offering (IPO) oversubscribed by more than three times. Completing its offer on 22 May 2017, Eagle priced its IPO at PHP15 per share and sold 500m common shares by way of primary offer with an overallotment option of up to 75m secondary shares. Joint lead underwriters China Bank Capital Corp, SB Capital Investment Corp, and PNB Capital and Investment Corp, attributed the market’s positive re...

Eagle Cement Corp prices IPO at PHP15

15 May 2017, Published under Cement News

Eagle Cement Corp has priced its initial public offering (IPO) at PHP15 (US$0.30)/share, following the recent approval of its public listing by the Philippine Stock Exchange (PSE), to raise up to PHP8.63bn. The firm plans to sell 500m common shares by way of primary offer with an over-allotment option of up to 75m secondary shares. The offer period is set on 16-22 2017 while target listing date is on 29 May 2017. "We are very pleased with the bookbuilding results. The issue was well r...

Eagle Cement Corp gets IPO nod

11 May 2017, Published under Cement News

The Board of the Philippine Stock Exchange (PSE) yesterday approved the initial public offering (IPO) applications of cement maker Eagle Cement Corporation. Eagle Cement will be offering 500m primary shares at a maximum price of PHP16.00 (US$0.32) per share. The scheduled offer period for Eagle is 16-22 May.

Eagle Cement moves listing date

28 April 2017, Published under Cement News

Eagle Cement Corp has moved the listing of its shares on the Philippine Stock Exchange (PSE) from 17 May 2017 to 29 May 2017 as it awaits all the necessary regulatory approvals. The cement producer is embarking on an initial public offering (IPO) to raise PHP9.2bn (US$183.6m) from an offer of up to 575m shares at a maximum price of PHP16/share. The company’s IPO has already obtained the green light from the Securities and Exchange Commission and is just waiting for the approval of the P...

Philippines: Eagle Materials gets IPO green light

21 April 2017, Published under Cement News

The Securities and Exchange Commission of the Philippines has approved the initial public offering applications of cement-maker Eagle Cement Corp. Based on a document from the SEC, Eagle Cement was given authority to sell up to 575m shares at PHP16/share. The offer will consist of 500m primary shares and up to 75m worth of secondary shares for overallotment, in case of excess demand. This exercise will bring to public hands about 11.5 per cent of Eagle Cement’s shares.