Cement News tagged under: Philippines
Cemex Philippines sees 63% fall in 9M17 income30 October 2017, Published under Cement NewsCemex Holdings Philippines Corp said on Friday that its net income for the first nine months of 2017 had fallen 63 per cent as a result of lower prices and volumes amid heightened competition. Net profit in the 3Q17 declined to PHP688m (US$13.33m) from the PHP1.88bn reported in the same period last year primarily due to lower prices and volumes. The company said financial expenses fell 39 per cent from a year ago following the refinancing of the company's dollar-denominated loan with ... |
Holcim Philippines breaks ground on Kalayaan project30 October 2017, Published under Cement NewsHolcim officials broke ground at its Davao plant, where two major projects are being undertaken to raise the works’ production capacity from 1.4Mta to 2.2Mta. The PHP1.5bn (US$29m) Kalayaan project will see the automation of loading of its products from ship-to-dock and an increase in grinding project. The Davao expansion is part of Holcim Philippines’ PHP2.7bn investment to raise its domestic cement capacity to 12Mta from the current 10Mta. The increased capacity will allow the compan... |
The Philippines' DTI seeks equal treatment on all imported cement04 October 2017, Published under Cement NewsThe Philippines' Department of Trade and Industry (DTI) wants to impose "equal treatment" to all imported cement, regardless if the product is brought in by a pure trader or by a manufacturer. "We're not going to give a distinction. Every [product] will undergo product testing, but we’ll see if we're going to do pre-shipment or post-shipment or both. We have to balance it in a way that there's product compliance for the benefit of consumer," Trade Secretary Ramon M Lopez said in an intervie... |
Philippines: Eagle Cement receives tax incentive26 September 2017, Published under Cement NewsEagle Cement Corp reported that two of its cement projects with a total cost of nearly PHP19bn (US$373m) have been recently approved by the Board of Investments (BOI) under the prevailing Investment Priorities Plan (IPP), which provides such business activities with fiscal and nonfiscal incentives. The projects relate to the PHP6.5bn expansion of the company’s Bulacan plant and the PHP12.5bn production facility of its wholly-owned subsidiary South Western Cement. In its disclosure to ... |
Cebu's Board of Investment approve South Western Cement Corp's 2Mta new plant19 September 2017, Published under Cement NewsA new PHP12.5bn (US$245m) cement plant for South Western Cement Corp (SWCC) in Cebu is one of the largest projects approved by the Board of Investments (BOI) in August. The planned 2Mta cement plant wil be completed in two years' time and will serve the Visayas and Mindanao markets. SWCC is a wholly-owned subsidiary of listed firm Eagle Cement Corp. The cement producer owns mineral rights in Malabuyoc, Cebu, reports the Sunstar Cebu. Trade Secretary and BOI Chairman, Ramon Lopez, i... |
Eagle Cement secures alliance with construction giant11 September 2017, Published under Cement NewsIn anticipation of a massive rise in domestic infrastructure-building, Philippines-based Eagle Cement Corp has entered into a strategic alliance of cement supply with Yuchengco family-led construction firm EEI Corp. The new deal is set to strengthen the existing partnership between the two companies by expanding the list of EEI projects that Eagle will supply cement to, as the Philippines enters what economic managers envision to be a "golden age of infrastructure." "This contract is an... |
Philippines DTI to review cement import rules04 September 2017, Published under Cement NewsPhilippine Trade and Industry Secretary, Ramon Lopez, said the country's government plans to review the current rules on cement imports following an ongoing spat among importers and producers on a proposed preshipment inspection. A draft DTI order is considering preshipment inspection as substitute for testing cement imports upon arrival in the Philippines. Several cement producers, including Eagle Cement Corp, Taiheiyo Cement Philippines, Cemex Philippines, Republic Cement and Northern C... |
Philippine cement producers oppose import inspections31 August 2017, Published under Cement NewsLetters from local cement firms addressed to Trade and Industry Secretary, Ramon M Lopez, and the Cement Manufacturers Association of the Philippines (CEMAP) have opposed plans to conduct pre-shipment inspection of imported cement, as substitute to testing upon arrival in the country. However, revised rules and guidelines would be welcomed. Ramon S Ang, chairman of Eagle Cement Corp opposed the proposed minimum requirement of pre-shipment inspection for cement imports, reports the Mani... |
Semen Indonesia30 August 2017, Published under Cement NewsWith three factories in Indonesia, located in North Sulawesi, Java and Sumatra, and one overseas plant in Vietnam, Semen Indonesia is now looking to expand into the Philippines. According to local press reports, the company is seeking a partner to help establish a cement plant in Davao City. The news comes on the back of Semen Indonesia attending the first Manufacturing Product Exhibition to be held in the Philippines. The event, which took place last month, was designed to ignite new tradin... |
San Miguel, Northern Cement form JV30 August 2017, Published under Cement NewsSan Miguel Corp (SMC) has formed a joint venture with Northern Cement Corp to establish a cement plant in Sison, Pangasinan, Philippines. The joint venture company will be controlled by SMC via a 70 per cent stake while the remainder of shares is owned by Northern Cement, which is owned by SMC chairman, Eduardo Cojuangco Jr. Tycoon Ramon Ang is president of both SMC and Northern Cement. “SMC and Northern Cement Corp have agreed to organize and establish a joint venture corporation for... |