Philcement Corp., a unit of conglomerate PHINMA Corp., said Friday it is expanding its presence in Mindanao after securing a deal that will enable it operate a cement plant in Zamboanga del Sur province.
PHINMA said in a disclosure to the stock exchange Friday Philcement signed a manufacturing and sale agreement with Petra Cement Inc. (PCI).
Under the deal, Philcement will use PCI’s plant to manufacture, distribute and sell cement products.
The manufacturing facility is located in President Manuel A. Roxas, Zamboanga del Norte and includes a cement grinding facility with a capacity of 500,000 metric tons per annum. It is primarily serving the fast-growing Northern Mindanao market.
“This is aligned with Philcement’s growth strategy and its promise to assure Filipino consumers with reliable, high-quality supply of cement products under its legacy brand Union Cement,” PHINMA said.
Philcement, 60-percent owned by PHINMA, is engaged in the manufacture, importation, processing, distribution and sale of cement products.
It operates a cement processing facility at the Freeport Area of Bataan in Mariveles with an initial annual capacity of 2 million tons.
Philcement is under the construction materials group of PHINMA, which also includes Union Galvasteel Corp. and PHINMA Solar Energy Corp.
The group posted combined revenues of P10.12 billion and combined net income of P361.05 million in the first nine months of 2023,
PHINMA also has investments in education, construction materials, property development and hospitality.