Cement News tagged under: Philippines

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Eagle Cement Corp gets IPO nod

11 May 2017, Published under Cement News

The Board of the Philippine Stock Exchange (PSE) yesterday approved the initial public offering (IPO) applications of cement maker Eagle Cement Corporation. Eagle Cement will be offering 500m primary shares at a maximum price of PHP16.00 (US$0.32) per share. The scheduled offer period for Eagle is 16-22 May.

Eagle Cement moves listing date

28 April 2017, Published under Cement News

Eagle Cement Corp has moved the listing of its shares on the Philippine Stock Exchange (PSE) from 17 May 2017 to 29 May 2017 as it awaits all the necessary regulatory approvals. The cement producer is embarking on an initial public offering (IPO) to raise PHP9.2bn (US$183.6m) from an offer of up to 575m shares at a maximum price of PHP16/share. The company’s IPO has already obtained the green light from the Securities and Exchange Commission and is just waiting for the approval of the P...

CRH sees 4% advance in 1Q sales

26 April 2017, Published under Cement News

CRH reported a ‘satisfactory’ start to 2017 with first quarter sales up four per cent compared with a strong first quarter of 2016 which benefitted from very mild weather conditions across all its major markets. In a trading update released today in advance of its AGM taking place tomorrow, the Irish building materials major said group EBITDA for the "seasonally less significant first half of the year" is expected to be ahead of last year (1H16: EUR1.12bn). Based on current momentum, furth...

Philippines: Eagle Materials gets IPO green light

21 April 2017, Published under Cement News

The Securities and Exchange Commission of the Philippines has approved the initial public offering applications of cement-maker Eagle Cement Corp. Based on a document from the SEC, Eagle Cement was given authority to sell up to 575m shares at PHP16/share. The offer will consist of 500m primary shares and up to 75m worth of secondary shares for overallotment, in case of excess demand. This exercise will bring to public hands about 11.5 per cent of Eagle Cement’s shares.

Vietnam 1Q exports rise 11% YoY

18 April 2017, Published under Cement News

Vietnam exported 4.82Mt of cement and clinker worth US$168.65m in the first quarter of this year, representing 11 per cent increase YoY in volume and 6.4 per cent in value, according to the latest data of the General Department of Vietnam Customs. In March the country’s clinker and cement exports rose 7.8 per cent from February in volume and 7.6 per cent in value to 1.8Mt worth US$62.67m, the Xay Dung online newspaper quoted the government department as saying. Bangladesh remained the ...

Philippines: Eagle Cement Corp eyes third Bulacan line

06 April 2017, Published under Cement News

Eagle Cement Corp plans to open the third line of its Bulacan cement plant by 2018. The new line will add 2Mta of production capacity to the 5.1Mta integrated works in San Ildefonso, bringing its total cement capacity to 7.1Mta. Full funding for the new line has already been secured. In addition, the company is also looking to build a cement plant in Cebu by 4Q17 with completion of the 2Mta facility scheduled for 1Q20. The Cebu plant will be financed through the funds raised from the E...

Cemex sees Philippine infrastructure overhaul driving demand

29 March 2017, Published under Cement News

Philippine’s President Rodrigo Duterte’s infrastructure overhaul is expected to drive demand for cement and create a “multiplier effect” in the construction sector, Cemex says, according to a report by ABS–CBN News. Paul Arcenas, vice president investor relations, Cemex Holdings, said the private sector will match spending by government on more roads, bridges, railways and airports. “We continue to remain optimistic about the infrastructure program, as the government creates this multiplie...

APO Cement Corp signs waste heat agreement with Sinoma Energy Conservation

29 March 2017, Published under Cement News

Cemex Holdings Philippines Inc subsidiary APO Cement Corp has signed an agreement with Sinoma Energy Conservation Ltd. of China to build and operate a 4.5MW waste-heat-to-energy (WHTE) facility in Naga, Cebu. This technology is expected to generate 25,000MW hours annually. The facility is expected to mitigate the negative effects of power service interruptions, help reduce dependence on high-cost power sources, and reduce the cement plant’s carbon footprint, the company said. "Promoting en...

Philippine cement makers require permit less

27 March 2017, Published under Cement News

The Philippine Mines and Geoscienes Bureau (MGB) has removed the need for cement producers and holders of quarry and industrial sand and gravel permits to secure a mineral processing permit (MPP) with immediate effect. The bureau defined "mineral processing" as covering milling, beneficiation, leaching, smelting, cyanidation, calcination or upgrading of ores, minerals, rocks, mill tailings, mine waste and/or other metallurgical by-products or by similar means to convert the same into mark...

Philippines: infrastructure rebuild to drive cement demand

23 March 2017, Published under Cement News

President Rodrigo Duterte’s infrastructure overhaul is expected to drive demand for cement and create a “multiplier effect” in the construction sector, according to an official at Cemex. As the government builds more roads, bridges, railways and airports, the private sector will match this with new houses and commercial spaces, said Cemex Holdings Vice President for Investor Relations, Paul Arcenas. Cemex told the stock exchange on Thursday that its unit, APO Cement Corp, has partnered...