ALL NEWS

Eagle prepares to take on VisMin infra projects

Jun 30, 2017

­­Eagle prepares to take on VisMin infra projects

Manila, Philippines—Eagle Cement Corporation (ECC), after securing the Securities and Exchange Commission’s nod to conduct its initial public offering, is preparing to take on landmark infrastructure projects in Visayas and Mindanao.

The country’s largest Filipino-owned cement company based on sales volume, which currently manufactures and distributes its products in Luzon, intends to use the proceeds of its up to 9.2 billion-peso IPO to partially finance a new 2-million metric ton plant in Cebu, its fourth production line. Apart from this new production hub, which can accommodate the same capacity of its Bulacan plant, Eagle is also setting up marine terminals in strategic areas to hasten deployment of products and better facilitate logistics.

Supporting the ‘Golden Age of Infrastructure’

The move comes as a form of future-proofing while Eagle prepares for the government’s Php 3.6-trillion infrastructure outlay from 2018 to 2020.

Of the said amount, Php 31.5-bilion is allotted for the Mindanao Railway that will connect Tagum and Digos and Php 40.6-billion is allotted for the Davao Airport. Other notable VisMin government projects include New Cebu International Container Port, the Matnog-Samar Link, Cebu, and Panay railways.

A 6-year horizon would further put the government’s total outlay at Php 8-trillion, going mostly to roads, railway systems, airports, and transport terminals. All are poised to increase the activity in construction- and its allied sectors, including cement manufacturing.

In 2016, domestic cement consumption already reached an all-time high of 26 million metric tons. Local cement manufacturers only delivered 22.2 million, while the 3.7 million shortfall came from mostly regional imports.

Eagle Cement says that Visayas and Mindanao are still underserved markets and that a massive infrastructure program would put a squeeze to the cement supply. By 2020, Eagle Cement’s new Cebu plant would solely service these specific territories.

Eagle today

To date, Eagle Cement has two lines in its San Ildefonso, Bulacan plant with a total capacity of 5.1 million metric tons or about 150 million bags per annum. A third line, which is already fully-funded and under construction, will be completed by the first quarter of 2018—this would put Eagle’s capacity at 7.1 million metric tons or 180 million bags per annum.

It is looking to offer 575 million shares--500 million primary shares with an over-allotment option of up to 75 million secondary shares—at an offer price of up to Php 16 per share.

The company is owned by Ramon S. Ang and is led by Paul Ang, Chief Executive Officer.

 

###

 

Founded in 1995 and commencing commercial operations in 2010, Eagle Cement Corporation (ECC) operates the newest and single largest cement manufacturing plant in the Philippines. ECC is engaged in the business of manufacturing, marketing, sale and distribution of cement, using the brands Eagle Cement Advance Type 1P, Eagle Cement Exceed Type 1P, and Eagle Cement Strongcem Type 1. ECC is an ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 certified company.

 

YOU MAY ALSO LIKE TO READ



Bulacan plant grounds company’s quest for growth, leadership

Eagle Cement’s plant in San Ildefonso, Bulacan is country’s newest and largest fully-integrated facility

Eagle Cement Corporation Garners Titanium Award for 2014, 2015, and 2016

Eagle Cement Corporation (ECC) was awarded the coveted 2016 Titanium Award for the Quarry Operation category of the Presidential Mineral Industry Environmental Awards (PMIEA) last November 18, 2016 at the 63rd Annual National Mine Safety and Environment Conference (ANMSEC) at the CAP-John Hay Trade Center and Cultural Center in Camp John Hay, Baguio City.

Eagle Cement goes green in 7th anniversary

To commemorate the first cement bag it produced back in 2010, Eagle Cement Corporation (Eagle) took to the forests of San Ildefonso, Bulacan for a tree planting activity in celebration of its seventh anniversary.