By JAMES A. LOYOLA
Manila Bulletin
Cement maker Holcim
Philippines Inc. is planning to raise capital expenditures to P2.2 billion this year as it invests in raising plant efficiencies amid stronger demand.
In a briefing after the firm’s annual stockholders’ meeting Tuesday,
Holcim chief operating officer Roland van Wijnen said that, in the past 3 years, they had been spending about P2 billion each year.
However, the firm lowered capex last year because of the global crisis which dampened demand. But this year, Wijnen said they will try to bring it back to P2 billion.
Holcim also plans to put in an additional P200 million for this year’s capex which will be used for plant improvements.
Van Wijnen said they are cautiously optimistic of the industry but, if demand surges, Holcim still has one million available but deactivated capacity. The firm is currently using capacity of six million tons from total rated capacity of 7.2 million tons a year.
Holcim sustained the momentum of its strong 2009 performance, achieving year-on-year growth of 17 percent in net sales during the first three months of 2010.
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