Cement News tagged under: Holcim Philippines
Holcim Philippines completes Davao expansion11 July 2019, Published under Cement NewsHolcim 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 deal10 June 2019, Published under Cement NewsPresident 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 contract06 June 2019, Published under Cement NewsHolcim 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 1Q1905 June 2019, Published under Cement NewsHolcim 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 prices17 May 2019, Published under Cement NewsThe 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 operations10 May 2019, Published under Cement NewsLafargeHolcim 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... |
Bulacan plant wins tax incentives for new kiln line29 March 2019, Published under Cement NewsHolcim Philippines has secured tax incentives for its new kiln line in Bulacan province. The Board of Investments approved the company's application to register as a new cement producer for its Bulacan Line 3 project which will raise the cement capacity of the company to 2.478Mta. The tax incentives include income tax holidays of up to six years from commercial operations for pioneer companies and four years for non-pioneer firms. The Bulacan Line 3 project is part of a US$300m investment ... |
Big Asian producers in the frame for Holcim Philippines acquisition28 March 2019, Published under Cement NewsChina's Anhui Conch Cement Co and Japan's Taiheiyo Cement Corp have been invited to the next round of bidding for LafargeHolcim's Holcim Philippines Inc, along with Eagle Cement Corp. Shares of Holcim Philippines have risen more than 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, says Bloomberg. Holcim Philippines has also attracted interest from China Resources Cement Holdings Ltd and Hongshi Group Co, reports Bloomberg. Meanwhile, Holcim Philippines In... |
CMR Philippines wins Holcim Lugait order18 March 2019, Published under Cement NewsAutomation and control systems specialist CMR Philippines has won the contract to supply and install new power monitoring technology at Holcim Lugait cement works in Misamis Oriental, Philippines. The project covers the development, delivery, installation, testing and networking of the electrical installation for a major new upgrade of power monitoring capabilities. Current and voltage transformers are be supplied as part of a comprehensive package of engineering support that also sees C... |
Eagle Cement denies reports of Holcim Philippines acquisition05 March 2019, Published under Cement NewsEagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads: "By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the company, expressed on several occasions interest in the assets of Holcim." Holcim Philippines has also... |