Holcim Philippines to spend P121.5M for Bulacan plant upgrade

Holcim Philippines Inc. has allocated P121.5 million for this year and the next to improve the usage of alternative fuels and raw materials for cement production at its Bulacan plant.

The company made the announcement in an emailed statement on Monday, as Holcim said it expects to sustain gains from cost management and efficiency improvements beyond 2020 following the double-digit drop in both its top and bottom line during the period.

Net profit fell 34.44% to P1.036 billion in the fourth quarter of 2020 as net sales dropped to P7.235 billion from P9.808 billion previously.

Full-year net profit declined by 42.49% to P2.064 billion from P3.589 billion in 2019 as net sales plunged to P26.015 billion from P33.486 billion the previous year.

Holcim attributed the declines to the enhanced community quarantine (ECQ) imposed across high-risk areas from March to May, along with the weather conditions recorded in the fourth quarter that both hampered delivery of raw materials and services to production sites and dispatch.

"We improved efficiency and sustainability of operations,"  said Holcim president and chief executive officer John Stull.

"We also introduced new building solutions and enhanced digital tools to better serve the customers. With our committed employees and loyal business partners, these improvements make us ready to help drive a faster recovery and deliver great value to all our stakeholders," he added.

Aside from Bulacan, Holcim has cement manufacturing facilities in Batangas, Davao, La Union, and Misamis Oriental, as well as aggregates and dry mix business and technical support facilities for building solutions.—AOL, GMA News