Politics

Century Peak’s cement unit secures gov’t certification

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THE construction and cement subsidiary of listed firm Century Peak Holdings Corp. (CPM) has secured quality certification from the government for its cement products ahead of its market entry.

CPM said in a stock exchange disclosure on Tuesday that its subsidiary, Century Peak Cement Manufacturing Corp., has secured quality standard certification from the Department of Trade and Industry (DTI) for its blended hydraulic (Pro) and Portland (Prime) cement products.

The DTI’s quality standard certification signifies that Century Peak Cement’s products meet or surpass the requirements set by the Bureau of Philippine Standards.

The certification is the final step before Century Peak Cement enters the market this month. It will be engaged in the production and merchandising of cement, cement products, and by-products including their derivatives and all kinds of minerals and building materials.

“Evolving to include cement manufacturing proved to be natural for the business as a sister firm operates a mining site that yields a lot of limestone which we can now translate to another revenue-generating endeavor,” Century Peak Vice President for Finance Katrina C. Keng said.

The cement manufacturing plant is located in Pinamungajan, Cebu, about two kilometers from the initial quarry site of another CPM unit, Century Peak Mineral Development Corp., which is the source of the limestone raw material used for cement production.

The plant has a capacity of 1 million tons of cement annually and provides jobs to almost 200 people with about a thousand indirect beneficiaries.

“With our own pier located near the plant, we can easily transport our cement products throughout the country in a more cost-efficient manner,” Ms. Keng said.

Meanwhile, CPM said that it expects strong demand for Century Peak Cement’s products as government programs are focused on creating affordable mass housing and road and transportation projects.

The company added that it also has a Board of Investments (BoI) incentive that grants a four-year income tax holiday from the registered start of commercial operation.

“We want to be relevant not only to the growth of our holding firm’s business but, more importantly, to the construction industry that provides lasting infrastructure necessary to realize economic progress for the country,” Ms. Keng said.

On Tuesday, shares of CPM at the local bourse dropped 0.10 points or 2.94% to close at P3.30 apiece. — Revin Mikhael D. Ochave