Cement News tagged under: Philippines
Philippines sees 64% increase in cement imports for 1Q1923 May 2019, Published under Cement NewsThe domestic cement industry of the Philippines has reported a 64 per cent increase in imports during the first quarter of 2019. Data presented during the first public hearing conducted by the Tariff Commission on the cement import safeguard measure showed total cement imports of 1.74Mt from 1.06Mt in the 1Q18, according to The Manilla Bulletin. Imports reportedly continued to rise despite the imposition of the provisional PHP8.40/bag (US$0.16/bag) safeguard duty imposed in February this ... |
Republic Cement to co-process Nestlé Philippines' plastic waste17 May 2019, Published under Cement NewsNestlé Philippines and Republic Cement (CRH-Aboitiz) have entered into an agreement to co-process post-consumer plastic waste in the company’s cement kilns. "We are happy to partner with Nestlé Philippines and to help address pollution from residual plastics and sachets. This is a win-win situation for us and the environment. Together, we can build a greener, stronger Republic," said Nabil Francis, director of Republic Cement. In April 2018 Nestlé globally announced a commitment that 100... |
Acquisition of Holcim Philippines may reduce cement prices17 May 2019, Published under Cement NewsThe Philippine’s Department of Trade and Industry (DTI) has stated that it expects San Miguel Corp’s recent acquisition of a majority stake in Holcim Philippines to result in lower prices of locally-produced cement. "We can expect more synergies in their operations, more economies of scale which will hopefully bring down their cost, prices. But we still expect some segmentation of the market because we all know that the Eagle brand is always lower than Holcim. Just like in any industry, d... |
LafargeHolcim signs agreement to sell Philippine operations10 May 2019, Published under Cement NewsLafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the divestment of its operations in Indonesia, Malaysia, Singapore and the Philippines, it has exited the... |
Republic Cement launches Kapit-Balay masonry cement08 May 2019, Published under Cement NewsPhilippine cement producer Republic Cement introduced its Kapit-Balay masonry cement to the market at its Partners’ Night at the Maayo Hotel, Mandaue City, Cebu. Kapit-Balay cement is a Type S high-strength masonry cement optimised for ease of application and adhesion. It is suitable for plastering, brick or block laying and filling. With a lower clinker-to-cement ratio due to its light micro-materials, its production delivers a cement with a lower carbon footprint. |
Eagle Cement Corp achieve PHP1.59bn net profit in 1Q1907 May 2019, Published under Cement NewsEagle Cement Corp reported a net profit of PHP1.59bn (US$30.6m) in 1Q19. This was a rise of 49 per cent YoY driven by a double-digit growth in sales volumes and higher cement selling prices. Eagle Cement's net sales in the first quarter amounted to PHP5.37bn, up by 34 per cent in the same period last year, the company told the Philippine Stock Exchange. The "strong domestic demand driven by private consumption," the report said. Net income margin improved to 30 per cent from around... |
Philippine DTI: no price cap on cement for now01 May 2019, Published under Cement NewsThe Philippine Department of Trade and Industry (DTI) has rejected the call for a price cap on local cement at present, but it may take action when prevailing market prices reach PHP240 (US$4.64)/bag. “There is no need for now. I’ll look into the numbers,” Trade Secretary, Ramon Lopez, told reporters Monday when asked if the government would intervene in the market and set a price cap for cement. “Let’s say prevalent price is PHP240, then, we can come in and put it back to PHP220-225,” he ... |
Republic Cement launch Kapit-Balay masonry cement18 April 2019, Published under Cement NewsRepublic Cement has developed a new cement called Kapit-Balay masonry cement at its Danao City plant, Philippines. The product is designed to meet demand from Cebu's construction industry for a more economical and environmentally-friendly masonry cement. Kapit-Balay masonry cement has a Type S high-strength optimised for ease of application and adhesion, where mortar masonry is required. This hydraulic cement is designed to be used for plastering, brick or block laying, and block filling wi... |
Philippine cement shortage expected to delay construction11 April 2019, Published under Cement NewsThe current shortage of cement in the Philippines is likely to delay construction projects, according to Pronove Tai International Consultants. The property consultants estimated that the lack of cement could be expected to result in a 30 per cent delay in building completions in Metro Manila. "Our thinking is that the cement shortage will cause impact for the entire year unless government does something about it. That is why we are already ringing the bell," said Monique Pronove, Pronov... |
Cemex Holding Philippines plans SRO08 April 2019, Published under Cement NewsCemex Holdings Philippines Inc plans to increase its capital stock by more than triple to raise finds through a potential stocks rights offering (SRO). "Cemex Holdings became one of the most actively-traded stock (last week) after it disclosed its plan to increase its authorised capital to enable itself to raise finds via SROs or other fund-raising option," said Jervin S de Celis of Timson Securities. Cemex is aiming to raise up to US$250m to improve its capital structure, provide flexibil... |