Phinma partners with Floirendo Group for Davao cement plant

MANILA, Philippines — The Phinma Group of the Del Rosario family has concretized its plan to develop a new cement manufacturing facility in Davao as it inks a deal with the Floirendo-led Anflo Management and Investment Corp. (ANFLOCOR).

Phinma subsidiary Philcement Corp. entered into joint venture agreements with Anflocor to build a modern cement manufacturing plant in Davao del Norte.

The multibillion-peso facility will be undertaken by Philcement Mindanao Corp., which is 70 percent owned by Philcement and 30 percent owned by Anflocor.

Philcement will run the state-of-the-art facility once it becomes operational by 2026.

It will have a production capacity of two million metric tons per year, allowing Philcement to better cater to customers of its legacy brand Union Cement by ensuring steady and reliable supply.

Phinma said its collaboration with Anflocor is a testament to stronger business relations between the del Rosarios and the Floirendos that would bolster their position as pioneers of infrastructure development and economic progress in the region.

The company said the partnership would guarantee the availability of quality cement to support the development of Mindanao.

“Phinma is steadfast in its commitment to infrastructure development, with our business solutions designed to promote this. We welcome this opportunity to deepen our relationship with the Floirendos, a like-minded partner and fellow pioneer in nation-building,” Phinma chairman and CEO Ramon del Rosario Jr. said.

The Davao International Container Terminal Inc., operator of Mindanao’s most modern port terminal and part of the Anflo Group, is also a party to the agreements.

“We at Anflocor are excited about this partnership as we anticipate continued growth in Mindanao which will require good quality cement,” Anflocor real estate and construction group president and Philcement Mindanao vice chairman Ricardo Lagdameo said.

“Partnering with a like-minded group that has a very extensive track record in this space and whose core value is improving the lives of the communities they operate in, was something very important for us,” he said.

Philcement, a 60 percent owned subsidiary of Phinma, is engaged in the manufacture, importation, processing, distribution and sale of cement products.

It currently operates a cement processing facility in the Freeport Area of Bataan in Mariveles.

Last month, Philcement inked a share purchase agreement with petra cement Inc. for its 100 percent outstanding shares for P500 million.

Petra Cement owns a plant in Zamboanga de Norte, which comprises a cement grinding facility with a capacity of 500,000 metric tons per annum.

The acquisition is aligned with Philcement’s growth strategy and will support its commitment to assure Filipino consumers with reliable and high-quality supply of cement products under Union Cement.