Cement News tagged under: Philippines

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Eagle Cement reports 30% fall in net sales

13 April 2021, Published under Cement News

Philippine-based Eagle Cement Corp has reported a net income of PHP3.4bn (US$70.02m) in 2020, down 44 per cent YoY as a result of lockdown measures imposed in mid-March. "The halting of our operations due to pandemic-related restrictions took a hit on our results in the first half of 2020, but the remaining half proved that we are well-positioned to bounce back," said John Paul L Ang, CEO. Net sales declined 30 per cent to PHP13.9bn from PHP19.8bn in 2019, but the PHP8bn from sales gen...

China's imports from Vietnam rise 36%

30 March 2021, Published under Cement News

China, the Philippines and Bangladesh were the biggest importers of Vietnamese cement in the first two months of 2021, according to the General Department of Vietnam Customs. China imported 2.43Mt of cement worth US$79.91m, up 36.1 per cent YoY and 22.8 per cent in volume and value, respectively. The volumes accounted for 40.6 per cent of Vietnam’s total export volume and 36.8 per cent of the country’s cement export value during the 2M20. The Philippines imported 1.1Mt at a value of US...

Philippines expands import safeguard measures

16 March 2021, Published under Cement News

The Philippines has expanded the list of countries covered in its cement import safeguard measures. The amendment was based on the Department of Trade and Industry’s annual review of import data, where it found that some countries already have a share of total cement imports that has exceeded the three per cent threshold, according to the Manila Bulletin. As a result, the list now includes Chile, Israel, Slovenia, Slovakia, Poland, Lithuania, Latvia, Hungary, Estonia, Czech Republic, the R...

Holcim Philippines sees 43% fall in net profit

03 March 2021, Published under Cement News

Holcim Philippines has reported a 42.5 per cent decline in net profit to PHP2.07bn (US$42.72m) for 2020, alongside a 22.3 per cent YoY fall in sales to PHP26.02bn from PHP33.49bn in 2019. "Lockdowns from March to May and severe weather conditions in the fourth quarter further affected the business. These hampered delivery of raw materials and services to production sites and dispatch of products to customers," said the company in a statement. The company's EBITDA was down by 38.6 per cent...

Holcim Philippines appoints new CEO

25 February 2021, Published under Cement News

Holcim Philippines has appointed Horia Ciprian Adrian as its president and CEO, following the departure of John Stull who has led the company for three years. The appointment will be effective from 1 March. "It is an honour to be appointed as the new President and CEO of Holcim Philippines. The business in the Philippines is a significant contributor to the LafargeHolcim Group and it is truly exciting to continue the remarkable work done under John's leadership," said Mr Adrian. He has p...

Cemex Philippines resets opening date for Antipolo plant

24 February 2021, Published under Cement News

Cemex Philippines is postponing the opening of its new integrated cement plant in Antipolo City to January 2022. The original target date for completion of the project was   December 2020. The US$265m kiln line will have a cement capacity of 1.5Mta. "Accordingly, the four-year income tax holiday period applicable to this project shall be reckoned from January 2022 or the actual start of commercial operations, whichever is earlier," the company said.

Cemex Philippines records net income of PHP98m in 2020

16 February 2021, Published under Cement News

Cemex Holdings Philippines Inc reported a 23 per cent weaker net income of PHP985m (US$20.54m) in 2020 from PHP1.3bn in 2019, as the coronavirus impacted its operating earnings. The listed company’s consolidated net sales also dropped by 16 per cent last year to PHP19.7bn from PHP23.6bn in the previous year. The COVID-19 pandemic slumped the firm’s domestic cement volumes by 11 per cent YoY in 2020, while its domestic cement volumes in the fourth quarter shed nine per cent YoY due to advers...

New director elected to San Miguel board

22 January 2021, Published under Cement News

John Paul Ang has been elected as a director of Philippines-based San Miguel Corp, filling the board vacancy left after Reynaldo David passed away last year. Mr Ang is currently the president and CEO of Eagle Cement Corp, which is owned by the Ang family. "He brings with him years of top managerial experience in the cement industry in the Philippines and in Malaysia, beginning with experience of business operations to top-level management decision making. The experience allowed him to be...

Cemex Philippines' US$235m project reaches milestone

20 January 2021, Published under Cement News

Cemex Philippines' US$235m project has reached a milestone as the company has lifted the rotary kiln into place for its new line. Upon completion, the 1.5Mta expansion at Solid Cement will raise capacity to 3.4Mta. "This milestone demonstrates our full commitment to the development of the country and brings us closer to further strengthening our position in providing the infrastructure and building needs for economic development," said Ignacio Mijares, CEO and president, Cemex Holdings Ph...

Vietnam sees exports rise 14% in 2020

20 January 2021, Published under Cement News

Vietnam exported over 3.6Mt of cement and clinker worth US$135m in December 2020, up 15.3 per cent MoM in volume and 10.8 per cent YoY in value, according to the General Department of Customs. During the full year, the country earned US$1.43bn from exporting 38.4Mt of such products, up 3.2 per cent and 13.7 per cent YoY, respectively. China was the biggest importer of Vietnamese cement and clinker in 2020, importing 22.2Mt worth US$759.4m, accounting for 57 per cent of the total export...