Century Peak to launch cement business
The cement business of Keng family-led Century Peak Holdings Corp. is making its debut this month after receiving the go-signal from the Department of Trade and Industry (DTI).
The listed company said construction unit, Century Peak Cement Manufacturing Corp., secured the DTI’s quality standard certification for its Pro (blended hydraulic) and Prime (Portland) cement products.
“Certification of quality means that Century Peak Cement’s variants meet or exceed the requirements set by the Bureau of Philippine Standards and is the final hurdle before the brand enters the market this month,” the company said in the statement.
Century Peak Holdings, formerly Century Peak Metals Holdings Corp., expanded its business purpose in 2019 to allow it to engage in construction and construction-related activities.
“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. With our own pier located near the plant, we can easily transport our cement products throughout the country in a more cost-efficient manner,” Katrina Keng, Century Peak vice president for finance, said in the statement.
Cebu manufacturing plant
The company’s manufacturing plant is located in Pinamungajan, Cebu, near the initial quarry site of the group’s limestone plant.
The facility has a capacity of 1 million tons of cement per year, the statement showed.
“The entry of Century Peak Cement comes at an opportune time as government programs are geared toward creating affordable mass housing and road and transportation projects which are expected to increase demand for its products,” the company said.
“The company also holds a Board of Investment incentive that grants a four-year income tax holiday from the registered start of commercial operation,” it added. INQ
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