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Cemex Holdings posts double-digit drop in 2020 net income

Published February 15, 2021 11:43am
Listed cement producer Cemex Holdings Philippines Inc. (CHP) saw a double-digit drop in its net income in 2020, as the coronavirus disease 2019 (COVID-19) pandemic weighed on business operations during the year.
CHP on Monday said its net income fell to P985 million last year from P1.3 billion from 2019 to reflect a 24.23% drop, as consolidated net sales dropped by 16% while earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 1% to P4.2 billion.
Our results in 2020 were made possible by the effort and dedication of our employees, despite the unexpectedly challenging and extraordinary year. We remain cautious on the road ahead as headwinds and uncertainty remain, Ignacio Mijares, president and chief executive officer at CHP, said. ....

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Cemex Philippines' US$235m project reaches milestone

Cemex Philippines US$235m project reaches milestone
20 January 2021
Cemex Philippines US$235m project has reached a milestone as the company has lifted the rotary kiln into place for its new line. Upon completion, the 1.5Mta expansion at Solid Cement will raise capacity to 3.4Mta.
This milestone demonstrates our full commitment to the development of the country and brings us closer to further strengthening our position in providing the infrastructure and building needs for economic development, said Ignacio Mijares, CEO and president, Cemex Holdings Philippines.
Tong Laigou, chairman and general manager of CBMI Construction, has applauded the lifting of this new rotary kiln in a record time of two days. Mr Laigou said that the CBMI and Cemex Philippines teams had worked under strict protocols to secure the safety of the site. ....

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Cemex Philippines's Solid Cement plant lifts new kiln into place - Cement industry news from Global Cement

Cemex Philippines Solid Cement plant lifts new kiln into place
Written by Global Cement staff
19 January 2021
Philippines: Cemex Philippines Solid Cement plant in Antipolo has lifted a new rotary kiln into position as part of a US$235m installation of a new production line at the site. Once complete the new line will add 1.5Mt/yr to the unit’s production capacity increasing the total to 3.4Mt/yr. The new production line will reuse waste hot gases to dry raw materials and high efficiency bag filters reduce improve emissions control. Cemex is also using its proprietary Low Temperature Clinker technology to reduce carbon dioxide emissions. ....

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Cemex invests $235M in new cement line

January 20, 2021 | 12:07 am
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CEMEX Holdings Philippines, Inc. has positioned its large heating device as it builds the cement production line that would add 1.5 million metric tons of cement to the firm’s annual capacity.
The company in a statement on Tuesday said it invested $235 million or P11.3 billion into the new cement line, which would increase output to 3.4 million metric tons a year.
The pyro-processing device called a rotary kiln would raise materials to high temperatures in order to create cement.
“This milestone demonstrates our full commitment to the development of the country and brings us closer to further strengthening our position in providing the infrastructure and building needs for economic development,” Cemex Holdings Philippines Chief Executive Officer and President Ignacio Alejandro Mijares Elizondo said. ....

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