Holcim Philippines Inc. will reopen this month its grinding cement plant in Mabini, Batangas that will boost the company s production by 1 million metric tons per year.
Holcim Philippines chief executive Ed Sahagun said in a news briefing the reactivation of the Mabini plant was in line with the company's positive outlook on cement demand by the government and the private sector.
The cement company said it spent $12 million to reactivate the plant.
Holcim Philippines saw its net income rise 34 percent in the second quarter to P1.62 billion, on stronger sales and efficient operations. Second-quarter revenues jumped 13 percent to P8.11 billion from P7.2 billion.
The cement firm said it enjoyed an excellent second quarter after construction picked up during the summer months, supported by steady plant operations and effective cost controls.
The strong second quarter performance boosted the company s first-half net income to P3 billion, up 50 percent from P2 billion in 2012 as revenues rose 10.5 percent to P15.28 billion versus P13.82 billion a year ago.
"Our industry is a key sector that is benefiting early from the Philippines' economic revival. We see a continuing trend in construction activities –government is keen on sustaining infrastructure investments, and private construction is being driven by real demand. In such an environment, the challenge is keeping the market supplied and we are committed to do our share," Sahagun said.
