Cement News tagged under: Philippines
Seacem sells shares to comply with public float, Philippines07 June 2013, Published under Cement NewsPhilippine-based Southeast Asia Cement Holding (Seacem) is selling PHP194m worth of shares to comply with the 10 per cent minimum public ownership set by the country’s stock exchange. Seacem said in a disclosure to the Philippine Stock Exchange that it had signed a subscription agreement with two subscribers involving the sale of 555m at PHP0.35/share. The shares account for 7.9 per cent of the company’s outstanding capital stock. The share would boost the cement manufacturer’s public o... |
Lafarge Republic Inc eyes further expansion, Philippines29 May 2013, Published under Cement NewsLafarge Republic Inc (LRI) is considering further increases in capacity over the next two years as it continues to expand its production base to respond to the growing demand for building materials in the Philippines. Speaking to reporters at the sidelines of the company’s annual shareholder meeting, company President Renato Sunico, told local press that the company is considering an additional 2.3Mt of milling capacity by 2015 on top of its current capacity of 6Mt. For this year, LRI ha... |
Cement producers explain price hikes, Philippines27 May 2013, Published under Cement NewsThree of the largest cement producers in the Philippines have begun submitting documents to the Department of Trade and Industry (DTI) to explain recent rises in cement prices. Trade Undersecrertary Zenaida C. Maglaya told reporters that Holcim Philippines, Lafarge Republic and Cemex Philippines have started submitting documents to support the adjustment in prices which have risen above the Suggested Retail Price (SRP) of PHP205-210/bag. Holcim reportedly raised its price to PHP216/bag... |
Holcim Philippines to tap debt market27 May 2013, Published under Cement NewsHolcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from internally generated income while the bulk will come from the debt market, most likely from local sources. The company will decide how much to raise during the fourth quarter of this year. “We have no debt at the... |
San Miguel Corp outlines expansion plans, Philippines24 May 2013, Published under Cement NewsIndustrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president, Ramon S Ang, some US$250m will be used to increase capacity of NCC’s Pangasinan plant, while another US$250m will be used to build a new plant in Southern Luzon. The remaining $250m will be utilised for the new plant in the province of Cebu. "SMC plans to put up more cement ... |
DTI requests further information on Philippine pricing06 May 2013, Published under Cement NewsPhilippine cement producers have until next week to provide the Department of Trade and Industry (DTI) with further information explaining reasons behind their higher selling prices. Last month the DTI asked Holcim Philippines, Lafarge Republic Inc, Cemex Philippines and Eagle Cement Corp to explain why cement is being sold above the recommended retail price of PHP205-PHP210/bag. Trade undersecretary Zenaida Maglaya has since told The Philippine Star that while three of the four cement... |
Waste processing facility launched, Philippines23 April 2013, Published under Cement NewsThe Mundo Verde Corporation, in partnership with the Quezon local government, has officially launched a waste processing facility in Payatas, Quezon City, to turn municipal waste into fuel for use in some of Lafarge Republic’s Inc’s cement facilities. The Mundo Verde Corp consortium comprises Lafarge Industrial Ecology International SA; landfill operator IPM Environmental Services, Inc. (IPM- ESI); waste management consultancy Basic Environmental Systems & Technologies, Inc. (BEST); as ... |
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... |