Eagle Cement aims to double capacity by 2020

Vivienne Gulla, ABS-CBN News

Posted at Jun 30 2017 04:55 PM

Eagle Cement CFO and treasurer Monica Ang and CEO John Paul Ang speak to reporters. Vivienne Gulla, ABS-CBN News

MANILA - Eagle Cement said Friday it aimed to double production capacity to 9.1 million metric tons by 2020 with the opening of new plants.

The company's third production line, located in Bulacan, will be operational by next year, adding 2 million metric tons to its current annual capacity of 5.1 million metric tons, said CEO John Paul Ang.

A fourth facility in Cebu will start producing cement in 2019, Ang said.

Eagle Cement, which listed shares on the stock exchange last month, is also looking at potential acquisitions, said CFO and treasurer Monica Ang.

"We have specific qualifications before we target any company or area," she said, adding "Marami nagbebenta sa Eagle (Many are trying to sell to Eagle) because they know Eagle is aggressively expanding."

Eagle Cement's net income in the first three months of the year grew 30 percent to P1.03 billion, with the government's P8-trillion infrastructure program expected to drive demand for cement.