Cement News tagged under: Philippines

RSS feed

Philippines: CeMAP claims cement smuggling on rise

16 June 2016, Published under Cement News

The Cement Manufacturers Association of the Philippines (CeMAP) has estimated that 75 per cent of the 161,000t of cement imported into the country in the first quarter of this year was technically smuggled, the Standard reports. CeMAP’s president, Ernesto Ordoñez, claims that importers have been consistently understating the value of their cargoes to avoid taxes. Mr Ordoñez told a press conference: “If freight undervaluation goes unidentified and unpunished, this may lead not only to more...

Cemex Holdings Philippines set for record IPO

03 June 2016, Published under Cement News

Cemex Holdings Philippines Inc has obtained regulatory approval to launch an initial public offering (IPO) worth PHP39.74bn (US$854.3m), which could be the largest stock market debut in the country.   Cemex intends to use proceeds for repayment of up to US$504m of short-term loan from a related party. The debt was incurred in connection with the acquisition of operating subsidiaries—Apo Cement Corp and Solid Cement Corp —as part of a reorganisation. The Securities and Exchange Commi...

Philippines: Holcim Q1 revenues up 17.2%

31 May 2016, Published under Cement News

Holcim Philippines have released trading figures for 1Q2016, revealing that revenues have increased 17.2 per cent YoY to PHP10.1bn (US$216m), reports InPR. The company attributed its good performance to higher private spending and to increased government infrastructure investment, of which PHP760bn (US$16.25bn) of funding has been allocated. Holcim Philippines quarterly results showed operating EBITDA rising by 5.3 per cent to PHP2.5bn (US$53m). Holcim Philippines President and Country...

Philippines: Mariveles dry bulk terminal

25 May 2016, Published under Cement News

Sesia Nectar Port Services Inc announced the start of commercial operations at its Mariveles Dry Bulk Terminal in the Freeport Area of Bataan (FAB), Philippines. The company began developing the port in 2015. Ramon Atayde, Sesia chairman, said that with the use of mechanised material handlers for faster and more efficient discharge of shipment, the new facility will optimise the operations of dry bulk handling. The new Mariveles terminal will make FAB a viable location for investors as it...

Philippines 1Q16 cement sales up 13%

20 May 2016, Published under Cement News

Philippines cement sales increased by 12.8 per cent YoY in the first quarter of 2016, according to Ernesto Ordoñez, President of the Cement Manufacturers' Association of the Philippines (CeMAP). Volumes rose from 5.7Mt in 1Q15 to 6.43Mt. "Demand will continue to be strong, especially with presumptive President Duterte saying that infrastructure will remain a high priority during his administration," said Mr Ordoñez. For this year, the Aquino administration has allotted an infrastructure...

Philippines: CeMap President calls for greater use of blended cement

09 May 2016, Published under Cement News

The Cement Manufacturers Association of the Philippines (CeMAP) has requested that the government to change its policies relating to the use of ordinary Portland cement (OPC) in public infrastructure projects so that the country can achieve its goal of cutting carbon emissions by 70 per cent by 2030. With the support of scientific data signed by respected experts,CeMAP president, Ernesto Ordoñez, said CeMAP is calling for the backing of the Climate Change Commission to further boost its pu...

CRH 1H16 earnings to reach US$1.1bn driven by US and Asian markets

27 April 2016, Published under Cement News

In its earnings statement for 1Q2016, CRH predicts that EBITDA will rise to EUR1bn (US$1.1bn) driven by growth in the United States and the Philippines. This is around five per cent up on last year, with the final figure to be announced when 1H2016 results are published on 25 August. Sales for 1Q2016 itself are up nine per cent YoY, with US sales up by 22 per cent and Asian sales up 12 per cent. European markets were reported to be flat.  Some EUR85m (US$96m) was spent on acquisitions ...

Holcim Philippines forecasts 8-10% volume growth

14 April 2016, Published under Cement News

The head of Holcim Philippines CEO, Eduardo A Sahagun expects the local cement industry to sustain its bullish run this year with sales volume seen growing by as much as 8-10 per cent. This was on the back of increased infrastructure spending by the government and the continuing construction activities of the private sector, said Mr Sahagun.   The growth was attributed to higher public spending and the continued confidence of the private sector in the economy. In an interview with the In...

Philippines: Norzagaray plant inaugurates Horomill grinding mill

16 March 2016, Published under Cement News

Republic Cement & Building Materials Inc inaugurated a 0.85Mta grinding mill at its cement plant in  Norzagaray, Bulacan province, Philippines, on Tuesday. Renato Sunico, president of Republic Cement, said that the FCB Horomill will lift the cement plant's total grinding capacity to 1.85Mta. The Norzagaray unit now comes under the wing of newly-formed CRH-Aboitiz Co following the divestment of assets by Lafarge Republic Inc last year.

Holcim Philippines net profit surges 58% YoY

02 March 2016, Published under Cement News

Holcim Philippines Inc said Wednesday net profit in 2015 surged 58 per cent YoY to PHP8.1bn (US$171m) on strong sales and a large one-off gain on investment. The company said it booked a PHP2.6bn advance from the revaluation of an investment in an affiliate while revenue rose 15 per cent to PHP37.5bn due to increased government spending in infrastructure projects and higher construction activity. Holcim Philippines Inc has an estimated cement capacity of 8.6Mta. It is also investing US$...