Building trust in the business of building
FOR SEVERAL years, CEMEX Philippines has contributed to the story of Philippine nation building. Through its high-quality products and innovative solutions in cement and concrete, the company has become the partner of Filipinos in building the foundations of society and transforming ideas into realities.
CEMEX Philippines is one of the leading cement producers in the country and is a subsidiary of the CEMEX global organization headquartered in Monterrey, Mexico. The Mexican giant company initially entered the country in 1997 by acquiring a 30% stake in the company Rizal Cement. At that time, Solid Cement Corporation was a subsidiary of Rizal Cement that merged years after. In 1999, CEMEX, together with other investors, also purchased an aggregate 99.9% interest in APO Cement Corporation.
CEMEX Philippines continued to expand its distribution capabilities and cement manufacturing in the following years. It acquired terminal facilities and marine vessels, and strengthened its logistics infrastructure. To diversify its product options and meet the challenges of modern construction, the company started producing ready-mix concrete; added a new cement mill in its APO Cement Plant; and started offering materials and solutions for cement- intensive pavement and housing projects.
In 2016, CEMEX Holdings Philippines went public and successfully raised P25.13 billion in equity.
One of the recent milestones achieved by the company is when its subsidiaries, Solid Cement and APO Cement, became the first cement plants in the country to be certified by SGS Philippines for ISO 50001 Energy Management System ( EnMS). The Department of Energy, through its Philippine Industrial Energy Efficiency Project, recognized the company for implementing EnMS in its plants.
Currently, CEMEX Philippines is in the works of expanding its capacity by 1.5 million tons through the construction of a new integrated cement production line in its Solid Cement Plant in Antipolo City. This investment will strengthen CEMEX’s commitment as the nation’s reliable supplier of cement to meet the growing needs of the construction industry.
“CEMEX Philippines managed to become one of the leading building solutions providers in the country by seeking a higher purpose that is— building trust in the business of building,” CEMEX Philippines President Ignacio Mijares told BusinessWorld.
The company believes that part of its success is its relentless efforts in innovating and improving its products and operations. It seeks to develop the best solutions in cement and concrete that help Filipinos in improving their lives, and continues to enhance its overall business by growing profitably and maximizing its overall performance.
“With the synergies harnessed from its products, expertise, and technology, CEMEX has played a role in promoting a more efficient exchange of goods and an improved quality of life among its many stakeholders in the Philippines,” said CEMEX Philippines Vice President for Investor Relations Paul Arcenas.
For this year, CEMEX Philippines shared that the company is planning to ramp up domestic production and continue to seek ways to make product available to its customers.
CEMEX Philippines is observing that as the present administration focuses on its efforts towards the development of the country’s infrastructure; more construction is required. Continuous infrastructure spending signals a positive outlook for CEMEX Philippines.
“By 2022, public spending on infrastructure is planned to reach 7.4% of the economy. CEMEX is committed to capitalize on the growth potential of the Philippine economy. Construction growth is imperative to sustain the momentum,” said Arcenas. “CEMEX will be at the forefront of the country’s economic story and the company’s heritage of innovation.”