Cement News tagged under: Philippines

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Holcim Philippines closes Davao cement plant

06 April 2020, Published under Cement News

The Philippines' leading cement-maker Holcim Philippines has suspended the operation of its manufacturing plant in Davao as the city was locked down until 19 April to contain the COVID-19 pandemic. The suspension of operations in Davao is in compliance with Mayor Sara Duterte's order to impose an enhanced community quarantine (ECQ) within Davao City starting 4 April. "While our Lugait plant in Misamis Oriental will continue to operate and serve the requirements of our business partners and...

Holcim Philippines to increase AF use

31 March 2020, Published under Cement News

Holcim Philippines plans to further increase its use of suitable and preprocessed waste as alternative fuel and raw material to reduce costs as well as help address the country’s solid waste issue. “Aside from its business benefits, our Geocycle unit enables us to further contribute to Philippine development in a sustainable manner. Through our co-processing operations, we are able to lower our carbon footprint and help ease the waste management challenges of the country while producing an...

Eagle Cement sees sales advance 20% in 2019

26 March 2020, Published under Cement News

Philippines-based Eagle Cement Corp saw its net sales advance 20 per cent YoY to PHP19.82bn (US$387.78m) in 2019. Gross profit rose 20 per cent to PHP8.67bn, while net income reached PHP6.02bn. The company has attributed the positive results to the commissioning of its third production line in Bulacan, increasing its total capacity to 2Mta. The construction of its fourth production line in Cebu, which will boost capacity by a further 2Mta, is set for completion by December 2022. "Eagle...

Republic Cement and Nestlé expand green cooperation

24 March 2020, Published under Cement News

Republic Cement and Nestlé Philippines will be expanding their Plastic Neutrality Initiative to further reduce plastic waste in the country as the cement producer will co-process soft plastic waste of Nestlé in its kilns. “Republic Cement is happy to be working with Nestlé in their push to becoming plastic-neutral. This partnership likewise allows us to do more as we promote the use of alternative fuel to further embed sustainability in our operations,” said Republic Cement President and CE...

Holcim, Cemex suspend Luzon output

23 March 2020, Published under Cement News

Holcim and Cemex have suspended production at their operations in Luzon, the Philippines, to comply with social distancing and quarantine measures put in place by the country’s government to address the coronavirus pandemic. Holcim has suspended plant, terminal and office operations with measures covering the Bacnotan, La Union, Norzagaray and Bulacan cement plants. The company’s terminals in Calaca, Mabini, Manila and Batangas as well as the dry-mix plant in Paranaque will no longer disp...

Holcim Philippines posts 41% net income advance in 2019

03 March 2020, Published under Cement News

Holcim Philippines achieved a revenue of PHP33.5bn (US$660.4m) in 2019 despite a slow first half in terms of construction activity. However, the company’s operating EBITDA increased 36.7 per cent YoY to PHP6.7bn in 2019 from PHP4.9bn in 2018 as the company benefitted from initiatives to raise efficiencies and improve costs across the board. The rise was further supported by a more favourable product mix and the stable contribution of its aggregates business. The company’s full-year net in...

AbaCore Capital signs joint venture agreement for cement project

14 February 2020, Published under Cement News

Philippines-based AbaCore Capital Holdings Inc has received approval for a joint venture agreement with Honghui Pioneer S-Cement International Inc, which will facilitate the development and operation of a new cement plant. Omnilines Energy International Network, a subsidiary of AbaCore Capital, is therefore set to invest PHP1bn (US$19.8m) to establish a cement plant and silo project with Honghui. At the same time, AbaCore has acquired up to 10 per cent of Honghui’s authorised capital stock.

Cemex Holdings Philippines raises PHP12.7bn from SRO

31 January 2020, Published under Cement News

Cemex Holdings Philippines completed a stock rights offering last week, raising PHP12.77bn (US$250.6m) from selling 8.29bn common shares. The proceeds are expected to be used to fund Solid Cement’s Antipolo expansion project and pay outstanding debt. "Post-SRO and subject to the approval from the Securities and Exchange Commission (SEC) of Cemex’s application for increase of authorised capital stock, Cemex would have a total of issued and outstanding 13,489,226,623 common shares," said ...

PhilCement Corp inaugurates Bataan facilities

20 January 2020, Published under Cement News

Phinma-Corp subsidiary PhilCement Corp has inaugurated its first state-of-the-art cement and port terminal at the Freeport Area of Bataan, Philippines. Located on a 1.9ha plot the 2Mta facility represents an investment of PHP1bn (US$19.6m). “We want to contribute what we can in nation building to making lives better," PHINMA President and COO, Ramon del Rosario, said.

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...