Cemex Holdings changing corporate name

February 13, 2025 | 12:00am

MANILA, Philippines — Cemex Holdings Philippines Inc. (CHP) is changing its corporate name to Concreat Holdings Philippines Inc. to reflect its recent management change.

In a stock exchange filing, CHP said that stockholders owning more than two-thirds of the total issued and outstanding capital of the company approved the amendments to its articles of incorporation involving the change in its corporate name.

The company said  the amendment in its corporate name is being made due to the change of control in the beneficial owner of the principal stockholder of CHP, Cemex Asian South East Corp.

Further, CHP will raise the number of the members of its board of directors from eight to nine.

The amendment aims to increase shareholders’ representation in the board of directors of CHP.

The Consunji Group, through diversified engineering conglomerate DMCI Holdings Inc., Semirara Mining and Power Corp. and Dacon Corp., completed its acquisition of Cemex Asian South East Corp. for $272 million in December last year.

The acquisition marks the group’s strategic expansion into the cement manufacturing sector.

The Consunji Group now has nearly 90 percent ownership in CHP, the country’s fourth-largest cement manufacturer.

DMCI holds a 51 percent effective stake, while Semirara and Dacon own 10 percent and approximately 29 percent, respectively.

To ensure a seamless transition, Herbert Consunji has been appointed as president and chief executive officer of CHP to lead the company’s turnaround efforts to further streamline operations and unlock synergies.

Consunji earlier said that CHP is seen becoming profitable in two to three years’ time.

CHP, which wholly owns APO Cement Corp. and Solid Cement Corp., currently has a combined annual production capacity of 5.7 million tons.

The capacity is expected to grow to 7.2 million tons by early 2025 upon the completion of the expansion plant at Solid Cement.