DMCI eyes turnaround for Cemex Holdings Philippines

Business.
Business.(Business File photo)

ENGINEERING conglomerate DMCI Holdings has revealed a strategic plan to rejuvenate Cemex Holdings Philippines (CHP), which is DMCI’s significant investment and first acquisition in 10 years.

Despite CHP’s recent losses (P1 billion in 2022 and P2 billion in 2023) attributed to rising costs and reduced sales, DMCI Holdings is confident in turning it around by 2025.

DMCI Holdings cites ongoing capacity expansion and synergies within their group as key factors for this turnaround.

CHP is doubling its cement production capacity in Luzon through a new production line set to begin operations in September 2024. DMCI Holdings also anticipates cost reductions in production supplies and administrative expenses, aided by market normalization and supplier transitions. / PR

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