Cement News tagged under: San Miguel Corp

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San Miguel's acquisition of Holcim Philippines undergoes further review

09 September 2019, Published under Cement News

The Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ...

San Miguel Corp and Holcim Philippines face opposition to merger deal

10 June 2019, Published under Cement News

President Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one  company. Speaking about the deal a spokesperson for those against the deal said," it will definitely result in a carte...

Acquisition of Holcim Philippines may reduce cement prices

17 May 2019, Published under Cement News

The Philippine’s Department of Trade and Industry (DTI) has stated that it expects San Miguel Corp’s recent acquisition of a majority stake in Holcim Philippines to result in lower prices of locally-produced cement. "We can expect more synergies in their operations, more economies of scale which will hopefully bring down their cost, prices. But we still expect some segmentation of the market because we all know that the Eagle brand is always lower than Holcim. Just like in any industry, d...

LafargeHolcim signs agreement to sell Philippine operations

10 May 2019, Published under Cement News

LafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the divestment of its operations in Indonesia, Malaysia, Singapore and the Philippines, it has exited the...

San Miguel Corp announces plans for new plant

14 March 2018, Published under Cement News

Cement producers based in the Philippines are investing to expand their capacity on the back of an anticipated demand increase, which could result in an opportunity for exports in the future, according to the Manilla Bulletin. San Miguel Corp have recently announced plans for a new cement plant in Pagbilao, Quezon. The 2Mta facility is expected to begin commercial operation in May 2021, and represents an investment of PHP12bn (US$230.3m).

San Miguel, Northern Cement form JV

30 August 2017, Published under Cement News

San Miguel Corp (SMC) has formed a joint venture with Northern Cement Corp to establish a cement plant in Sison, Pangasinan, Philippines. The joint venture company will be controlled by SMC via a 70 per cent stake while the remainder of shares is owned by Northern Cement, which is owned by SMC chairman, Eduardo Cojuangco Jr.  Tycoon Ramon Ang is president of both SMC and Northern Cement. “SMC and Northern Cement Corp have agreed to organize and establish a joint venture corporation for...

San Miguel Corp to up investment spend

21 September 2015, Published under Cement News

Philippine conglomerate San Miguel Corp said on Monday it is raising planned investment in cement manufacturing to almost US$1bn with the addition of three new cement plants to two previously announced facilities. President Ramon Ang outlined the investment at a briefing following the listing of San Miguel's PHP33.5bn (US$720m) worth of newly issued preferred shares. Ang said in July San Miguel was building two cement plants, worth US$800m, expected to be completed in 2017. (Source: Reute...

San Miguel Corp plans Philippine expansion

15 July 2013, Published under Cement News

Philippine conglomerate San Miguel Corp (SMC) plans to invest in new manufacturing facilities to increase its market share. Company president Ramon Ang said SMC has invested in Northern Cement Corp (NCC) which is establishing a 2Mta line in Pangasinan. It currently owns a 35 per cent stake in NCC but it hopes to gain a majority share next year. The company also owns Eagle Cement which operates a plant in Bulacan. Ang told local press that the company plans to add two more plans in Quezo...

San Miguel Corp outlines expansion plans, Philippines

24 May 2013, Published under Cement News

Industrial 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 ...