Eagle Cement eyes new markets

MANILA, Philippines — Eagle Cement Corp., the listed cement company of the Ang family, is preparing to enter new markets as it expands its capacity.

In a press briefing following the company’s annual stockholders meeting, Eagle president and CEO Paul Ang said they expects to fully commission the third line in its plant in Bulacan within the year.

The third line boost Eagle’s current capacity by two million metric tons and expand its market reach to the Bicol and MIMAROPA — Mindoro, Marinduque, Romblon and Palawan — regions. It would also bring the Bulacan plant’s capacity to 7.1 million metric tons.

“The opening of our third production line will allow us to better serve new markets in Regions IV and V. This will give our company an increased role in the country’s infrastructure push, as we help build the future of Filipino communities,” Ang said.

By 2020, Eagle is targeting to complete line four which will be in Cebu and which would raise production capacity to 9.1 million MT.

The fourth line which will be in Malabuyoc, Cebu will give Eagle nationwide reach through markets in Visayas and Mindanao.

Ang said the outlook for the local cement sector remains bullish despite a challenging 2017 which saw a flood of imported cement in the market, which in turn affected cement prices.

Ang is hopeful this year will be better, adding that the company’s first half performance was better this year compared to the same period last year.

He also expressed hopes the company would continue to post double digit growth in sales this year and beat last year’s income of P4.26 billion, up four percent.

“Private consumption is still strong as conglomerates embark on expansion strategies, and the government remains steadfast in its national infrastructure push. All of our efforts are geared towards helping provide the cement demand of the local economy, through quality products that will become part of the country’s future,” Ang said.