Cement News tagged under: Holcim Philippines

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San Miguel's acquisition of Holcim Philippines undergoes further review

09 September 2019, Published under Cement News

The Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ...

DTI reports that cement prices remain stable

30 August 2019, Published under Cement News

Cement prices in the Philippines are holding firm despite some rumours of cement shortages, says the Department of Trade and Industry Regional Consumer Protection Division and Provisional Office (DTI). The wholesale price of a 40kg bag of cement is being sold at around PHP222 (US$4.26) and the retail price is being set at around PHP230-235. In January 2019, the DTI reported that retail prices of cement ranged from PHP220-230 in Bulacan, PHP220-250 in Nueva Ecija, PHP227-240 in Batan, PHP230...

Lugait Cement plant upgrades to meet Mindanao's rising demand

16 August 2019, Published under Cement News

Holcim Philippines, Inc (LafargeHolcim group) is preparing to start work on the modernisation of its Lugait Cement plant in Misamis Oriental as it expects continued growth in Mindanao demand. Mindanao's cement demand comes not just from the two primary cities of Davao and Cagayan de Oro, but also from Zamboanga, Dipolog, Butuan, and other secondary cities. "For so long, Visayas demand has always been bigger than Mindanao’s. But for the last three years, we are now bigger than Visayas," sai...

Holcim Philippines sees 28% fall in sales for 2Q19

01 August 2019, Published under Cement News

Holcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn. In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn. "We continued to deliver value to our customers and shareholders by sustaining actions to manage our costs and improve operational efficiency de...

Holcim Philippines completes Davao expansion

11 July 2019, Published under Cement News

Holcim Philippines has completed its 0.7Mta expansion project at its Davao facility, which has been undertaken to support the strong construction activity in Mindanao, according to a press release. "Our company is determined to continue supporting the development of Davao and the rest of Mindanao. These initiatives strengthen our ability to contribute to the progress of the region at this time of robust growth," said John Stull, CEO. The expansion involved the activation of a finish mill...

San Miguel Corp and Holcim Philippines face opposition to merger deal

10 June 2019, Published under Cement News

President Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one  company. Speaking about the deal a spokesperson for those against the deal said," it will definitely result in a carte...

Holcim Philippines seals large cement supply contract

06 June 2019, Published under Cement News

Holcim Phlippines Inc has sealed an agreement with Davao Constructors Association Center Inc (DCACI) to supply 400,000t of cement to its building group of 179 construction companies. This follows the provision of 320,000t of cement being supplied by Holcim Philippines to DCACI in 2018. Having introduced its new high-performance blended cement called Solido, construction companies have been eager to use the alternative to ordinary Portland cement (OPC). DCACI president, Antonio Y Uy, said...

Holcim Philippines reports 35% EBITDA surge in 1Q19

05 June 2019, Published under Cement News

Holcim Philippines has reported a 5.8 per cent YoY decrease in revenue to PHP8.1bn (U$156.28m) for the first quarter of 2019. However, EBITDA has surged 35 per cent to PHP1.7bn while its EBITDA margin climbed from 14.6 per cent to 20.8 per cent in the 1Q19. A minor increase in net profit to PHP704m from PHP700m has been attributed to higher interest expenses for funding capital projects. "I am very pleased to share that we have successfully followed up our strong finish in 2018 with an exce...

Acquisition of Holcim Philippines may reduce cement prices

17 May 2019, Published under Cement News

The Philippine’s Department of Trade and Industry (DTI) has stated that it expects San Miguel Corp’s recent acquisition of a majority stake in Holcim Philippines to result in lower prices of locally-produced cement. "We can expect more synergies in their operations, more economies of scale which will hopefully bring down their cost, prices. But we still expect some segmentation of the market because we all know that the Eagle brand is always lower than Holcim. Just like in any industry, d...

LafargeHolcim signs agreement to sell Philippine operations

10 May 2019, Published under Cement News

LafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the divestment of its operations in Indonesia, Malaysia, Singapore and the Philippines, it has exited the...