Cement News tagged under: Philippines
Cemex Holdings Philippines raises PHP12.7bn from SRO31 January 2020, Published under Cement NewsCemex 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 facilities20 January 2020, Published under Cement NewsPhinma-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 sale16 December 2019, Published under Cement NewsThe 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 packaging18 November 2019, Published under Cement NewsSan 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 operations14 November 2019, Published under Cement NewsCRH 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 profit11 November 2019, Published under Cement NewsPhilippines-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 NewsPhilippines-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 profit29 October 2019, Published under Cement NewsCemex 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 earnings28 October 2019, Published under Cement NewsIn 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 offering21 October 2019, Published under Cement NewsCemex 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 ... |