May 29, 2013

Lafarge to expand capacity; Q1 profits up 35%

Lafarge Republic Inc. has lined up capacity expansion projects in the Philippines amid expectations of continuous demand.  Lafarge president Renato Sunico said the company’s board of directors approved an investment for a new mill at the Teresa plant in Rizal province, which will produce 850,000 metric tons (MT) of cement per year starting 2015.

At present, the company has five cement plants, four of which are in Luzon, that produce a total of 7.7 million MT of cement per year. For the first time, nationwide demand exceeded 16 million MT at 18.4 million MT last year.

The company reported a net income of P1 B for the first quarter of the year, up 35% YOY. This was due to higher volume and retail price of cement. - WealthSec