Publicly-listed Century Peak Holdings Corporation (CPM) reported that subsidiary Century Peak Cement Manufacturing Corporation (CPCMC), the country’s newest cement producer, has been granted quality standard certification for its cement products.
In a disclosure to the Philippine Stock Exchange (PSE), CPM said its construction-related business was granted the Department of Trade and Industry’s (DTI) 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 industry’s newest player will be primarily engaged in the business of manufacturing, 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,” said Century Peak Vice President for Finance Katrina Keng.
She added that, “With our own pier located near the plant, we can easily transport our cement products throughout the country in a more cost-efficient manner.”
Located in Pinamungajan, Cebu, the manufacturing plant sits some two kilometers from the initial quarry site of another Century Peak subsidiary, Century Peak Mineral Development Corporation, which is the source of the limestone raw material used for producing cement.
It is the first industry in the municipality and has a capacity of one million tons of cement annually, providing jobs to almost 200 people with close to a thousand indirect beneficiaries.
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 also holds a Board of Investment (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,” Keng said.
CPM, formerly Century Peak Metals Holdings Corporation, expanded in 2019 its purpose to engage in and carry on general construction and construction-related activities, land reclamation and development activities, real estate development or any real estate activities, mining activities and mining-related activities, power and energy activities and power and energy-related activities in the Philippines.