Eagle Cement Corporation (EAGLE) continues its industry-leading streak as the cement firm registered a record-high P4.26 billion in net income for 2017, a 4% increase from the previous year.
Eagle Cement, EEI Corporation strike expanded partnership for new projects
Mar 1, 2018
Riding on the back of a boom in public and private infrastructure projects, Eagle Cement Corporation (Eagle) recently sealed a partnership with EEI Corporation, one of the Philippines’ top construction firms.
The new deal is set to strengthen the two companies’ existing partnership as it expands the EEI projects that will be supplied by Eagle. The strategic alliance comes in the middle of the government’s aggressive P8-trillion “Build, Build, Build” program, as well as the increased construction activity spurred by projects from conglomerates and property developers.
According to the construction statistics from approved building permits released by the Philippine Statistics Authority for the first quarter of 2017, there is a 7.1% increase year on year on the total number of permits. The data also revealed that residential and non-residential projects grew by 2.1% and 28.1% respectively.
“This contract is another feather on our cap,” said Eagle Chief Operating Officer and General Manager Manny Teng. “EEI is among the biggest players in the infrastructure industry and their confidence in Eagle, as exemplified by this partnership, is testament to the quality of our products and service.”
Currently, Eagle is exclusively supplying two landmark EEI projects: the P37.4 billion Metro Manila Skyway Stage 3 Project and the P62.7 billion MRT-7 Project.
According to EEI Vice President and Chief Procurement Officer Edwin Constantino, EEI needs a supplier like Eagle that can provide cement that meets their standards in terms of quality and quantity. With the upcoming line-up of projects for EEI, they believe Eagle’s soon-to-be-expanded capacity will be of great asset to their business.
“With the excellent experience we've had with Eagle Cement, along with the expansion of their capacity, they will be able to provide companies like us with cement that matches the scale and requirements of our projects. Eagle’s cement meets the required strength that we need to be able to build our projects successfully,” Constantino said.
Eagle’s capacity is set to expand with the completion of its third production line in Bulacan by early 2018. The new line will bring Eagle’s capacity up to 7.1 million metric tons per year. The additional capacity will help provide the greater demand for cement in the country, which will come from the lined-up infrastructure initiatives of the government as well as projects from private firms.
Founded in 1995 and commencing commercial operations in 2010, Eagle Cement Corporation (ECC) operates the newest and single largest cement manufacturing plant in the Philippines. ECC is engaged in the business of manufacturing, marketing, sale and distribution of cement, using the brands Eagle Cement Advance Type 1P, Eagle Cement Exceed Type 1P, and Eagle Cement Strongcem Type 1.