Cement News tagged under: Philippines
Philippine cement sales rise 3.4% in 1Q1322 April 2013, Published under Cement NewsPhilippine cement sales in the first quarter of 2013 rose 3.4 per cent YoY to 4.787Mt, according to the head of the Cement Manufacturers Association of the Philippines. First-quarter cement sales were also up from the fourth quarter sales of 4.409Mt, CeMAP President Ernesto M. Ordoñez, told the Business Recorder. Filipino cement demand recovered in 2012 from its “slump” in 2011 when the market barely expanded. Last year, consumption grew by 10 per cent YoY to 17.19Mt. The construction... |
Philippine producers seek incentives on expansion15 April 2013, Published under Cement NewsPhilippine cement manufacturers are seeking incentives with the Board of Investments for new capacity projects, as local producers seek to meet expected increases in cement demand. The Cement Manufacturers Association of the Philippines (CeMAP) has petitioned the BOI for the inclusion of the industry in the 2013 Investment Priorities Plan (IPP) to be eligible for government perks, particularly the income tax holiday which could exempt them from paying income tax for a maximum of eight ye... |
DTI probes Philippine cement price hike09 April 2013, Published under Cement NewsThe Department of Trade and Industry (DTI) has asked Philippine cement manufacturers to explain why prices have risen from a year ago and are above the suggested retail price (SRP). Trade undersecretary Zenaida Maglaya cited Holcim Philippines Inc which has raised its selling price to PHP218/bag (US$5.3) from PHP195 (US$4.7) last year. Similarly, Lafarge Republic and Cemex both raised their selling prices to PHP220/bag from PHP205 and PHP195/bag, respectively, Maglaya told reporters afte... |
Seacem sells entire stake in Lafarge Republic, Philippines02 April 2013, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) has sold its entire stake in listed affiliate Lafarge Republic Inc worth PHP11.32bn (US$227.9m). The stake has been sold as part of the company's bid to raise cash and improve the firm's financial position amid the likely entry of a new investor, Seacem said in a disclosure. |
Lafarge to reopen revamped Danao plant, Philippines21 March 2013, Published under Cement NewsLafarge Republic is to reopen its facility in Dano, Cebu, in the Philippines as part of the company’s drive to raise output due to increasing domestic sales. “The revamped plant in Danao City is one of several capacity expansion projects being undertaken by LRI to respond to the growing demand for building materials and the order backlog of construction projects of the leading construction companies.” Lafarge Republic said in a disclosure to the Philippine Stock Exchange. The plant wil... |
Seacem sells 4.3 per cent in Lafarge Republic, Philippines08 March 2013, Published under Cement NewsSoutheast Asia Cement Holdings, Inc (Seacem) has sold around four per cent of its stake in affiliate Lafarge Republic, Inc. "Seacem has... sold 50 million of its shares of stock of Lafarge Republic, or 4.3 per cent of Seacem's total Lafarge Republic shares, to the public consisting mostly of institutional investors," Seacem said in a disclosure yesterday. |
Holcim Philippines sees surge in full-year net profit28 February 2013, Published under Cement NewsHolcim Philippines has reported an 80 per cent YoY rise in net profit as it gains from improvements in operating and process efficiencies as well as a strong rebound in local demand. Net profit for the 12 months to the end of December 2012 climbed to PHP3.63bn from PHP2.03bn the year before. Revenues also rose 25.62 per cent from PHP21.62bn to PHP27.16bn. The company’s chief executive officer Eduardo Sahagun said that 2012 was one of the domestic industry’s best years, as overall growt... |
The Philippines: Southeast Asia Cement reports eightfold profit growth in 201212 February 2013, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) grew its profits by more than eightfold last year, the company said. "The board of directors approved the separate audited financial statements of the corporation for the fiscal year ended 31 December 2012, showing a profit for the year of PHP3753m (US$92.2m) for the parent company," Seacem said. Last year's profits are a big jump from the PHP449m earned in 2011, the company said in an e-mail yesterday when sought for details. Seacem became a ... |
Philippines: strong cement sales expected in 201308 January 2013, Published under Cement NewsThe Philippine cement sector is looking forward to higher sales this year as private sector projects and increased government spending on infrastructure are expected to continue driving drive demand. “2013 is going to be a strong year for sales,” Ernesto Ordoñez, president of the Cement Manufacturers’ Association of the Philippines told the Philippine Star. Mr Ordoñez said that higher sales would be supported by the government’s plan to spend more for infrastructure projects. “Th... |
Holcim sells stake in power generation subsidiary, Philippines04 January 2013, Published under Cement NewsTrans-Asia Oil and Energy Development Corp (TA Oil) has acquired the stake of partner Holcim Philippines Inc in a power plant in Bulacan province. In a disclosure to the Philippine Stock Exchange, TA Oil said that it "signed a share purchase agreement for the purchase by Trans-Asia of Holcim's 50 per cent stake in Trans-Asia Power Generation Corporation." The deal gives Trans-Asia full ownership of the power firm. Prior to the conclusion of this transaction, Holcim was in a joint ventu... |