Cement News tagged under: Philippines
Holcim Philippines sees 28% fall in sales for 2Q1901 August 2019, Published under Cement NewsHolcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn. In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn. "We continued to deliver value to our customers and shareholders by sustaining actions to manage our costs and improve operational efficiency de... |
Holcim Philippines completes Davao expansion11 July 2019, Published under Cement NewsHolcim Philippines has completed its 0.7Mta expansion project at its Davao facility, which has been undertaken to support the strong construction activity in Mindanao, according to a press release. "Our company is determined to continue supporting the development of Davao and the rest of Mindanao. These initiatives strengthen our ability to contribute to the progress of the region at this time of robust growth," said John Stull, CEO. The expansion involved the activation of a finish mill... |
Big Boss Cement withdraws from Tarlac project10 July 2019, Published under Cement NewsPhilippines-based Big Boss Cement has pulled out of its plans to construct a grinding unit worth PHP6bn (US$116.5m) in Bamban, Tarlac, following protests by some of the town’s residents. The protesters were reportedly concerned that the plant would pose health risks to the community, according to the Philippine Daily Inquirer. "Upon learning that the people in Bamban had contested its project, Big Boss Cement backed out," said Bamban Mayor, Jose Feliciano. Mr Feliciano also noted some of h... |
Cement importers deny activities hurt Philippine cement producers21 June 2019, Published under Cement NewsCement importers have rejected claims by local manufacturers that the import surge on cement is causing "serious injury" to the domestic industry. "Some members of the cement industry are exhibiting continuing profitability amid increased imports," the Philippine Cement Importers Association (PCIA) said in a statement on Thursday. This view was repeated by the PCIA in a position paper to the Tariff Commission, which is looking into the imposition of safeguards for imported cement, acco... |
Eagle Cement faces Malabuyoc plant delay19 June 2019, Published under Cement NewsEagle Cement Corp said the opening of its cement plant in Malabuyoc in Cebu, Philippines, will be delayed following issues in receiving the required permits for its construction. Eagle Cement President and CEO, John Paul L Ang, said the opening of its fourth cement line will be postponed by more than six months from its original end-2020 commissioning date. "Despite the setback, we are still targeting to sell cement in the Visayas region by end-2020 as promised," Mr Ang added. The company... |
Southeast Asia: tough times – consolidation ahead?17 June 2019, Published under Cement NewsAs Western giants are exiting the southeast Asian cement market, a new wave of consolidation, this time by local companies, is taking place. By Manas Tamotia, LEK Consulting, Singapore China’s Sinoma International Engineering Co Ltd is adding 10,000tpd of cement capacity to PT Cemindo Gemilang’s production base at the Bayah plant in Banten province, Indonesia As inflexible Western giants continue to withdraw from their positions in southeast Asia, the region’s cement market i... |
San Miguel Corp and Holcim Philippines face opposition to merger deal10 June 2019, Published under Cement NewsPresident Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one company. Speaking about the deal a spokesperson for those against the deal said," it will definitely result in a carte... |
Holcim Philippines seals large cement supply contract06 June 2019, Published under Cement NewsHolcim Phlippines Inc has sealed an agreement with Davao Constructors Association Center Inc (DCACI) to supply 400,000t of cement to its building group of 179 construction companies. This follows the provision of 320,000t of cement being supplied by Holcim Philippines to DCACI in 2018. Having introduced its new high-performance blended cement called Solido, construction companies have been eager to use the alternative to ordinary Portland cement (OPC). DCACI president, Antonio Y Uy, said... |
Holcim Philippines reports 35% EBITDA surge in 1Q1905 June 2019, Published under Cement NewsHolcim Philippines has reported a 5.8 per cent YoY decrease in revenue to PHP8.1bn (U$156.28m) for the first quarter of 2019. However, EBITDA has surged 35 per cent to PHP1.7bn while its EBITDA margin climbed from 14.6 per cent to 20.8 per cent in the 1Q19. A minor increase in net profit to PHP704m from PHP700m has been attributed to higher interest expenses for funding capital projects. "I am very pleased to share that we have successfully followed up our strong finish in 2018 with an exce... |
Cemex breaks ground on new line in the Philippines24 May 2019, Published under Cement NewsCemex Holdings Philippines (CHP) has broken ground on its new US$235m line at the plant of its subsidiary, Solid Cement, in Antipolo, Rizal. Upon completion, the expansion is expected to increase Solid Cement’s capacity to 3.4Mta from 1.9Mta. "The continuous investment and expansion of Cemex in the Philippines is a reflection of its profound commitment to help the Philippine government in its quest to build a stronger nation. With the expansion of our operations, we shall be able to suppo... |