Publicly-listed cement manufacturing firm Eagle Cement Corporation (Eagle Cement) posted a 44% dip in net income to P3.4 billion, down from P6.0 billion in 2019, after a strong start in 2020 was disrupted by the implementation of lockdown measures in the wake of the Covid-19 pandemic that began in mid-March of the year.
Eagle Cement sweeps 7th achievement award for sustainable development
Mar 23, 2021
23 March 2021, Manila, PHILIPPINES — Eagle Cement Corporation (Eagle Cement), one of the largest producers of cement in the Philippines, bags its seventh consecutive win from the Presidential Mineral Industry and Environmental Awards (PMIEA), in recognition of the Company’s initiatives to enforce sustainable development practices in its mining operations amid the new normal.
Last March 18, Eagle Cement received another Platinum Achievement Award under the Quarry Operations Category from PMIEA for its sustainability performance in 2020, marking the company’s seventh consecutive year of being recognized by the PMIEA Selection Committee. Eagle Cement has been assessed in the following criteria: Environmental Management and Protection, Rehabilitation/ Mining Forest Program, Safety and Health, and Social and Community Development, among others.
Prior to this, Eagle Cement has been a Titanium Achievement Awardee for four successive years since 2014 and a Platinum Achievement Awardee from 2018.
“We, at Eagle Cement, are proud to have sustained the work and operations amid the lockdown and ensure that we continuously comply with the industry standards and new regulations on sustainability practices,” said Paul Ang, President & CEO of Eagle Cement, in a statement. “This recognition is a reflection of our unwavering commitment to deliver more positive impact and value to the community by continuously mitigating the impact brought about by our operations even in the midst of challenges we faced in the past year.”
The PMIEA recognizes the commitment and outstanding efforts of companies and organizations in mining and quarry operations and mineral exploration. The award honored Eagle Cement’s best practices in the past year for responsible management of the environment and natural resources, improvement of land use, development of its host and neighboring communities, and site rehabilitation among others.
“We hope that this award further inspires our employees and partners to work towards building a stronger and more resilient Eagle Cement, fully understanding the need to maintain responsible and sustainable practices within the organization. Sustainability is always at the core of our business operations, and will remain to be a driving factor in the company,” Ang added.
Eagle Cement is optimistic about its growth as the Company is scheduled to complete by the first half of 2021 a new mill in Bulacan, which will increase its operations capacity and support Eagle Cement’s upcoming projects as most construction operations resume.