Cement News tagged under: Philippines
DTI campaign against 'substandard' cement imports receives backing18 August 2017, Published under Cement NewsCement importers put their support behind the Department of Trade and Industry’s (DTI) campaign to prevent the entry of 'substandard' imported cement into the Philippines, reports the Business Mirror. In a news statement, Col Dani Enriquez (Ret), also the executive director of the Philippine Cement Importers Association (PCIA), stated that cement importers are one with the DTI to restrict the entrance of substandard cement in the country. "We are categorically against importation of sub... |
Eagle posts flat 2Q earnings09 August 2017, Published under Cement NewsEagle Cement Corp of the Philippines reported a one per cent rise in earnings for the second quarter of this year as wet weather affected results. Net profit edged ahead to PHP1.9bn (US$37.5m) during the quarter versus PHP1.03bn a year ago, while net sales increased by six per cent to PHP3.71bn. "Historically second quarter is slower because of the rainy season," Eagle Cement President and CEO, John Paul L Ang, said in a press briefing, adding that the Easter Holy Week holiday occurred... |
Philippine watchdog finds 'indications" of anticompetitive agreements03 August 2017, Published under Cement NewsThe Philippine Competition Commission (PCC) discovered in its ongoing full administrative investigation “indications of anticompetitive agreements” in the local cement industry, senior officials told reporters on yesterday. Antitrust body commissioners said in a press briefing in Manila that PCC’s competition enforcement office was pursuing the investigation. “The competition enforcement office has seen indications of anticompetitive agreements that they are continuously studying and invest... |
Cemex Philippines reports drop in net income31 July 2017, Published under Cement NewsCemex Philippines saw its net income fall by 69 per cent in the 2Q17 to PHP136.5m (US$270m) from PHP436.1 in the same period of 2016 as demand softened and cement prices eased. In a disclosure to the stock exchange, the company reported a 12 per cent decline in sales to PHP5.6bn, while cost of sales fell three per cent to PHP3.3bn. Gross profit was down 22 per cent to PHP2.3bn. Sales volume declined three per cent in the second quarter from a year ago, while prices also fell by nine ... |
Holcim Philippines to invest US$54m in the next 2 years28 July 2017, Published under Cement NewsHolcim Philippines Inc plans to invest US$54m over the next two years to increase its capacity to 12Mta to support the government’s flagship infrastructure projects. The company will invest US$54m in the next two years to add 2Mt to its current cement capacity by the first half of 2019, particularly in La Union and Davao," Holcim Philippines President and Chief Executive Officer, Sapna Sood, said in a statement. "Our investments assure that Holcim Philippines will continue to provide a re... |
Philippine Trade Secretary defends import order24 July 2017, Published under Cement NewsPhilippine Trade Secretary, Ramon Lopez, has defended the legality and fairness of the recently-issued administrative order on cement importation following attacks on the order by importers. “The only reason post import standard is being done is only to ensure consumer protection. This is being done in other countries. We need to protect consumers from possible substandard imported cement. Lives can be endangered if substandard cement gets into the market,” Mr Lopez said. The order, ... |
Philippines: gearing for growth30 June 2017, Published under Cement NewsCement producers in the Philippines are gearing for growth, outlining new plant projects to ensure they are prepared to address the demand of anticipated public and private infrastructure spending. Cement demand in the Philippines has taken off in recent years, largely due to government infrastructure investment as well as industrial and commercial sector activity. Domestic cement consumption in 2016 amounted to just under 26Mt, up 6.6 per cent YoY despite a slowdown in the fourth quarter ... |
Eagle Cement reports 30% 1Q earnings rise30 June 2017, Published under Cement NewsEarnings of the newly-listed Eagle Cement Corp in the Philippines increased by 30 per cent in the first quarter of 2017, driven by a rise in sales volume during the first three months of the year. Net income reached PHP1.03bn (US$20.3m) for January to March, following an increase of 19 per cent in net sales to PHP3.77bn. "The retail business remains strong and with the government's pronouncement of increased infrastructure spending under its PHP8-trillion "Build Build Build" plan, th... |
Republic Cement outlines capacity development plans23 June 2017, Published under Cement NewsPhilippine-based Republic Cement group, a joint venture between CRH and local conglomerate Aboitiz Equity Ventures, has announced plans to invest an initial US$300m for its capacity development activities, the Manila Bulletin reports. The first phase of these activities, targeted for completion by 2019, focuses on increasing the capacity of all its integrated plants in Luzon and Mindanao, both in terms of milling and clinker production, to increase cement capacity by 3Mta. Moreover, iimpro... |
BOI seeks further industry investments21 June 2017, Published under Cement NewsThe Philippine Board of Investments (BOI) is seeking investment in the cement sector as it expects demand to hit 40Mta by 2020 due to a peak in government infrastructure spending. To prevent a supply shortfall, the Department of Trade and Industry (DTI) is starting preparation to ensure that construction materials are sufficient to support the government’s massive “Build, Build, Build” programme and the PHP10bn reconstruction budget for Marawi City. Last year, domestic cement consump... |