Cement business turn around seen in 3 yrs – DMCI Holdings

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DMCI Holdings Inc. said it will take three years to turn around its newly acquired venture, cement firm Concreat Holdings Philippines Inc. (CHP), longer than the initial target of one year. 

Herbert Consunji, DMCI chief finance officer and cocurrent president of CHP (formerly Cemex Holdings Philippines Inc.), said the company could at least be “above water” this year, after the new management works on operational efficiency since taking over the fourth largest cement firm in the country. 

“There are a lot of things to do. There(’s) room for improvement. We will try everything positive,” said Consunji in a chance interview at the Management Association of the Philippines meeting at Shangri La The Fort in Taguig City last week. 

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CHP, formerly a unit of Mexico-based Cemex SAB de CV, closed the first nine months of 2024 with a loss of P1.24 billion, up 52 percent from the prior year’s P819 million, amid a challenging cement market and high cost of operation.

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