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The Phinma Group of the Del Rosario family has concretized its plan to develop a new cement manufacturing facility in Davao as it inks a deal with the Floirendo-led Anflo Management and Investment Corp. (ANFLOCOR).
The Phinma Group is acquiring Petra Cement Inc., a cement manufacturer with a facility in Zamboanga del Norte, for P500 million.
Philcement Corp., a unit of conglomerate Phinma Corp., on Tuesday said it signed a share purchase agreement to acquire Petra Cement Inc. Philcement Mindanao Corp., a subsidiary of Philcement, will pay P500 million in exchange for 100 percent of the outstanding shares of Petra, the company said. The transaction is…
LISTED conglomerate Phinma Corp. plans to further expand its cement business in Mindanao with the development of a P2-billion facility in Davao.
Phinma Corp. is close to acquiring Petra Cement Inc.’s plant in Mindanao, according to one of its executives. Eduardo A. Sahagun, the company’s executive vice president for construction materials group, said the transaction will position Phinma as the only company to serve the cement needs of northern Mindanao. The company’s…