MANILA - Eagle Cement, which debuted on the stock exchange on Monday, hopes to become the market leader in 2 to 3 years, according to its chairman, Ramon Ang.
The completion of its Bulacan plant this year will raise production capacity by 25 percent to 7 metric tons per year, the largest in the country, Ang told reporters.
Eagle currently has 14 percent of the market and trails market leader Holcim. Ang said he hoped to raise this to 25 percent.
"Pag natapos yang expansion, you will see the full potential of the company next year... and then 2 years from now, the Cebu Plant will (be on stream and) supply Visayas and Mindanao."
(When the expansion is finished, you will see the full potential of the company next year... and then 2 years from now, the Cebu Plant will (be on stream and) supply Visayas and Mindanao.)
Ang said scale was the company's advantage, enabling it to sell at a cheaper price.
Eagle Cement shares were up 4.27 percent to P15.64 at noon trading. The initial public offering, priced at P15 per share, was three times oversubscribed.