Cement News tagged under: Philippines
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... |
The new Asian paradigm01 April 2019, Published under Cement NewsThis week CemNet news reported on the latest developments in LafargeHolcim's (LH) sale of Holcim Philippines Inc. Shares in the company have risen 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, according to Bloomberg data. A decade ago, every cement major wanted to grab a piece of the Emerging Market pie. What happened? Holcim Philippines operates five plants with 9.6Mta capacity, following the recent grinding mill expansion at its La Union plant in North L... |
Bulacan plant wins tax incentives for new kiln line29 March 2019, Published under Cement NewsHolcim Philippines has secured tax incentives for its new kiln line in Bulacan province. The Board of Investments approved the company's application to register as a new cement producer for its Bulacan Line 3 project which will raise the cement capacity of the company to 2.478Mta. The tax incentives include income tax holidays of up to six years from commercial operations for pioneer companies and four years for non-pioneer firms. The Bulacan Line 3 project is part of a US$300m investment ... |
Big Asian producers in the frame for Holcim Philippines acquisition28 March 2019, Published under Cement NewsChina's Anhui Conch Cement Co and Japan's Taiheiyo Cement Corp have been invited to the next round of bidding for LafargeHolcim's Holcim Philippines Inc, along with Eagle Cement Corp. Shares of Holcim Philippines have risen more than 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, says Bloomberg. Holcim Philippines has also attracted interest from China Resources Cement Holdings Ltd and Hongshi Group Co, reports Bloomberg. Meanwhile, Holcim Philippines In... |
Cement importers refute claims of sub-standard cement18 March 2019, Published under Cement NewsImporters of cement into the Philippines have disputed claims that their cement fails to meet regulatory standards. "All legally-imported cement retailed in the Philippine market is guaranteed to meet stringent quality controls. Our members import cement from various countries, including Vietnam. But wherever imported cement is sourced, we wish to stress that imported cement undergoes a three-tier quality control procedure mandated by (Department of Trade and Industry)," the Cement Importe... |
CMR Philippines wins Holcim Lugait order18 March 2019, Published under Cement NewsAutomation and control systems specialist CMR Philippines has won the contract to supply and install new power monitoring technology at Holcim Lugait cement works in Misamis Oriental, Philippines. The project covers the development, delivery, installation, testing and networking of the electrical installation for a major new upgrade of power monitoring capabilities. Current and voltage transformers are be supplied as part of a comprehensive package of engineering support that also sees C... |
Vietnamese exports rise 15% in February12 March 2019, Published under Cement NewsVietnamese exports have risen 15.2 per cent in volume and 36.3 per cent in value for February 2019, rising to around 2.5Mt and US$105m, respectively. The average export price has increased 18.3 per cent YoY to US$42/t, according to the country’s Foreign Trade Agency. The three main export markets for Vietnamese cement were the Philippines, China and Bangladesh at 2.1Mt in February, accounting for more than 75 per cent of total exports. In the first two months of the year, exports were up 7.... |
Eagle Cement records net profit increase in 201807 March 2019, Published under Cement NewsPhilippines-based Eagle Cement Corp has recorded a 13 per cent YoY rise in net profit to PHP4.8bn (US$91.98m) in 2018, on the back of a double-digit expansion in sales volume. Net sales advanced 11 per cent YoY to PHP16.5bn for the full-year period. In the 4Q18, the company’s net income surged 36 per cent YoY to PHP1.3bn while sales increased 19 per cent to a quarterly record of PHP4.3bn. "While we are faced with challenges in the industry, we remain steadfast to expand the company to ... |
Eagle Cement denies reports of Holcim Philippines acquisition05 March 2019, Published under Cement NewsEagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads: "By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the company, expressed on several occasions interest in the assets of Holcim." Holcim Philippines has also... |