Cement News tagged under: Philippines

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Cemex Holdings Philippines plans new share sale

16 December 2019, Published under Cement News

The Philippine Stock Exchange has approved Cemex Holdings Philippines’ plan to raise as much as PHP12.6bn (US$250m) from the sale of new shares to existing investors. The company is expected to price its rights offering on 6 January 2020 and launch the offer from 20-24 January next year. Listing of the new shares is tentatively set for 4 March 2020. The new shares will come from an increase in Cemex Philippines’ authorised capital stock from PHP5.195bn to PHP18.31bn, consisting of 18.3...

San Miguel Corp to use biodegradable cement packaging

18 November 2019, Published under Cement News

San Miguel Corp is set to become the first company to use fully-certified biodegradable plastic packaging in the Philippines. It will be initially used for both food and non-food products, such as cement and feed sacks, grocery bags and other single-use plastic packaging. "Initially, we will use it for cement packaging," said Ramon Ang. "What we will use is a biodegradable plastic woven packaging, or sack. This is proudly developed by Filipino inventors, using local materials, and made by l...

CRH reportedly looks to sell Philippine operations

14 November 2019, Published under Cement News

CRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem...

Eagle Cement Corp records 35% increase in net profit

11 November 2019, Published under Cement News

Philippines-based Eagle Cement Corp has recorded a 35 per cent YoY increase in net profit to PHP4.7bn (US$92.3m) for the first nine months of 2019, on the back of higher sales volumes and prices. Net sales in the 9M19 advanced 25 per cent YoY to PHP15.3bn, supported by a 19 per cent increase in sales volumes. “Eagle is poised to deliver double-digit growth towards the remainder of the year, as local demand for cement is expected to remain high in line with the anticipated pickup in const...

Republic Cement to increase capacity by up to 25%

11 November 2019, Published under Cement News

Philippines-based Republic Cement has announced plans to expand capacity by up to 25 per cent next year on the back of increased demand for cement products. "Our capacity is hovering around 7.5Mta. We will increase it by close to 25 per cent by next year," said Nabil Francis, president, Republic Cement. The president of the company added that the plans were a reaction to the government’s call to reduce dependence on imports. "The local industry needs to continue to invest and to modernis...

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...

Higher prices ensure Holcim Philippines receives better 9M19 earnings

28 October 2019, Published under Cement News

In a disclosure to the Philippine Stock Exchange, Holcim Philippines Inc said EBITDA almost doubled in the 9M19 to PHP1.2bn (US$23.4m) on cost improvements across all its operations coupled with better prices of cement and aggregates. Net income for the third quarter surged to PHP457.2m from PHP176.9m in the same period of the previous year. However, sales volumes were still lower than the third quarter of 2018 despite improved pricing resulting in lower net sales of PHP8.3bn from PHP8.5bn ...

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 ...

Bataan terminal to open before year-end

03 October 2019, Published under Cement News

Phinma Corp subsidiary Philcement Corp has stated that its PHP800m (US$15.4m) cement terminal in  Bataan will be opened before the end of the year. Phinma is using Philcement as its vehicle for its cement industry comeback in a move to contribute significantly to the growing demand for reliable and quality cement and construction materials in the Philippines. Philcement President and Chief Executive Officer, Eduardo Sahagun, said the new terminal, "will be a meaningful part of Phinma’s...

Holcim Philippines inaugurates new facilities at Bulacan unit

24 September 2019, Published under Cement News

Holcim Philippines has inaugurated new storage and loading facilities at its plant in Norzagaray, Bulacan, which it hopes will help boost production. The additions include a new warehouse with six loading bays and new packing and loading machines. "This is the third site we are holding inauguration activities at this year as our company continues investments to strengthen our ability to support our customers nationwide," said John Stull, CEO, Holcim Philippines. "This is part of our greate...