Thursday, 15 April 2010

Cement sales grow 16.8% in Jan.-Feb.---14-year high

Highest in 14 years
By BERNIE CAHILES-MAGKILAT
Manila Bulletin
http://www.mb.com.ph/articles/252658/cement-sales-grow-168-janfeb

Sales of cement in the first two months this year soared 16.8 percent, highest in 14 years, and sustained the 15 percent growth in sales in the last quarter of 2009 on back of robust construction activities early this year especially the government’s huge infrastructure spending.

Ernesto M. Ordonez, president of the Cement Manufacturers Association of the Philippines (CeMAP), said the growth translates to 2.5 million metric tons of cement sold in the January-February period this year.

With the strong performance, Ordonez said the industry has revised its sales growth projection for the entire year to between 3-6 percent from 3-4 percent in the same period last year.

Ordonez, however, said that the entire industry performance for the year would really depend on the outcome of the elections.

“If the elections go smoothly and the results are credible then the construction activities and infrastructure projects are expected to continue sustaining the robust industry growth,” he said.

The 15 percent growth in cement sales in the last quarter of 2009 was fueled by the rehabilitation works following the devastation caused by typhoons Ondoy and Peping.

The industry finished 2009 year with an 11.2 percent growth over 2008 for having sold 14.6 million MT of cement significantly surpassing CeMAP’s growth target of only 3 percent.

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