CEMEX, a Mexican building materials company offering superior quality products and reliable service all across the world, has reported that it will invest roughly $65 million to increase its cement production capacity in the Philippines and reinforce its distribution network in order to provide better services in high-demand regions across the country.
Through this investment, CEMEX will increase its APO facility's annual cement production capacity by 1.5 million metric tons. The capacity expansion is slated for operation by Q1 of fiscal 2014.
This new investment enables CEMEX to maintain pace with the rapidly growing Philippines market. The National Statistical Coordination Board reported that the country recorded 6.1% growth in gross domestic product during the first half of fiscal 2012. The Metropolitan Manila Development Authority has started several infrastructure projects as the nation recuperates from damage created by adverse weather conditions.
Worldwide, CEMEX is continuously adapting its operations to maintain pace with swiftly changing market scenario. In up-and-coming economies such as the Philippines, the building materials company is making investments to exploit the ever-increasing requirement for building materials.
CEMEX's Country President in the Philippines, Pedro Palomino stated that infrastructure development is one of the imperative needs of the country and hence, it has to be given top priority. The company is happy to play a role in the development of the Philippines and wants to serve as a long-term partner on its efforts towards a prosperous, sustainable future.
Source: http://www.cemex.com/
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