Consunjis eye medium-term recovery for Concreat
Concreat Holdings Philippines Inc., formerly Cemex Philippines, expects cement demand to recover “in the medium term” under the management of the Consunji family, backed by the government push for infrastructure development.
Herbert Consunji, president and CEO of Concreat, said during their annual stockholders’ meeting on Monday that 2025 “will bring continued pressures to the industry,” citing the highly competitive cement business and global trade tensions.
Still, Consunji pointed out that the Philippine government’s plan to allocate 5 percent of gross domestic product—equivalent to around P1.5 trillion—this year for infrastructure projects could fuel cement demand recovery.
As of February, government spending on infrastructure surged by 23.1 percent to P148.3 billion, data from the Department of Budget and Management showed.
“Since our management takeover, we have made a number of operational changes to position [Concreat] for that looming demand,” Consunji said.
Last month, Concreat completed the expansion of its Solid Cement plant in Antipolo City, increasing the facility’s annual capacity by 1.5 million tons (MT) to 7.2 MT.
The new production line is expected to help the company swing back to profitability by lowering costs.
To recall, engineering conglomerate DMCI Holdings Inc. officially took over Concreat in December 2024, when it acquired a 51-percent ownership stake in a $272-million deal.
Subsidiaries Semirara Mining and Power Corp. and Dacon Corp. hold 10 percent and 29 percent, respectively. The public currently owns 1.35 billion shares in Concreat, representing a 10.01-percent ownership.
