Cement News tagged under: Philippines

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PHINMA Corp to acquire Petra Cement for PHP500m

22 May 2024, Published under Cement News

Philippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under its legacy brand, Union Cement," PHINMA Corp. said. The acquisition follows the manufacturing and s...

Phinma to invest in PHP2bn Davao plant

02 May 2024, Published under Cement News

Philippines-based Phinma Corp plans to invest approximately PHP2bn (US$34.7m) in a new cement plant in Davao to further consolidate its presence in the cement market. "We’re putting up our Davao plant which is almost similar to Mariveles plant. That is in joint venture with some of our partners in Davao,” Philcement Corp President and CEO, Eduardo Sahagun, said. “That will bring our total capacity to somewhere like 5Mta if all those things will be completed in a couple of years,” he added....

CEMEX divests assets in Philippines

29 April 2024, Published under Cement News

CEMEX has announced that its subsidiary, CEMEX Asia BV, has signed an agreement with DACON Corp, DMCI Holdings Inc and Seminara Mining and Power Corp for the sale of its operations and assets in the Philippines. Once closed, this transaction will further advance CEMEX’s portfolio rebalancing strategy.  The assets to be sold by CEMEX Asia BV include 100 per cent equity interest in CEMEX Asian South East Corp, which owns approximately 89 per cent of CEMEX Holdings Philippines Inc (CHP)...

Holcim Philippines and Megawide renew supply contract

19 March 2024, Published under Cement News

Holcim Philippines has renewed its supply agreement with infrastructure conglomerate Megawide Construction Corp. Under the terms of the agreement, Holcim will supply the cement requirements of Megawide’s Precast and Construction Solutions (PCS) projects across the island of Luzon in 2024. This partnership is a continuation of a collaboration between Holcim and Megawide that began in 2016.  “With our renewed supply agreement with Holcim Philippines Inc, Megawide has reinforced its linkag...

DCMI in talks to acquire CEMEX Holdings Philippines

18 March 2024, Published under Cement News

Philippines-based D M Consunji Inc (DCMI), an engineering-based construction firm, is looking to expand into the cement business with the potential acquisition of CEMEX Holdings Philippines (CHP). According to The Philippine Star, the acquisition is seen as benefitting DCMI as cement is a key input in some of its major businesses. It could also help mange the costs of its property arm.  Although there has been no confirmation of when a deal could be completed, both DCMI and CHP are repo...

CEMEX Holding Philippines addresses plastic waste

14 March 2024, Published under Cement News

CEMEX Holdings Philippines Inc has teamed up with Liwayway Marketing Corp to address the management of plastic waste in the Philippines. Under the deal, Liwayway Marketing Corp, the country’s leading snack food supplier, will be channeling its post-consumer plastic packaging waste to CEMEX’s Solid cement plant for co-processing. The plastic waste will then be converted into alternative fuels and raw materials cement production at the plant.  “At CEMEX, we are committed to solving envi...

Republic Cement teams up with fast food giant to tackle plastic waste

06 February 2024, Published under Cement News

Republic Cement is working alongside fast food giant Jollibee Foods Corp (JFC) to reduce plastic packaging waste. Under the agreement, JFC will recover its post-consumer plastic packaging waste and rather than sending it to landfill, it will be sent to Republic Cement where it will be used as an alternative fuel. According to Philstar, the deal includes JFC’s wholly-owned brands in the Philippines as well as its franchised brands, including Burger King.  “Republic Cement provides a ver...

SMC posts 141% YoY rise in income

15 November 2023, Published under Cement News

Philippines-based San Miguel Corp (SMC), which owns Eagle Cement Corp , Northern Cement Corp and Southern Concrete Industries , has recorded net income of PHP31.2bn (US$556.7m) in the first nine months of 2023, up 141 per cent from the PHP12.9bn seen in the same period a year earlier. Consolidated revenue over the same timeframe declined five per cent to PHP1.1trn, reports Manila Bulletin, while consolidated operating income expanded 29 per cent YoY to PHP110.2bn, aided by a stronge...

Holcim Philippines posts 4% decline in net sales in 9M23

14 November 2023, Published under Cement News

Holcim Philippines has posted a 105 per cent YoY rise in net income to PHP999.4m (US$17.82m) in the first nine months of 2023, compared to PHP487.9m in the same period a year earlier. However, over the same timeframe net sales declined four per cent to PHP18.4bn from PHP19.1bn in the 9M22, reports Manila Bulletin. The fall is being attributed to poor cement demand as a result of subdued construction activity and unfavourable weather conditions. Operating EBITDA fell five per cent YoY from ...

Holcim signs power agreement with Berde Renewables

31 October 2023, Published under Cement News

Holcim Philippines has signed a power purchase agreement with Berde Renewables, a distributed energy platform of I Squared Capital. Holcim will use solar rooftop projects on its Bulacan and La Union plants with a combined capacity of 5.5MWp and an annual generation of approximately 7.8GWh. Holcim Philippines president and CEO, Horia Adrian, said the project is a significant decarbonisation milestone, “reducing our carbon footprint by more than 20 percent since 2018, with our focus o...