• Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
HERALD EXPRESS | News in Cordillera and Northern Luzon
ADVERTISEMENT
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
HERALD EXPRESS | News in Cordillera and Northern Luzon
No Result
View All Result
Home Editorial

Emerging Cement Industry Cartel

Herald Express News Team by Herald Express News Team
June 3, 2019
in Editorial
2
0
1
SHARES
12
VIEWS
Share on FacebookShare on Twitter

Cement is a major resource for the country’s construction industry that has been ement is a major resource for the country’s construction industry that has been  the subject of numerous consumer-related issues for over a decade now. Ear lier, construction industry stakeholders and consumer groups questioned cement manufacturers for their onerous pricing scheme when 97 percent of the components of cement are sourced domestically. The uproar of the consumers prevented what could have been the grand design of multinational and local cement manufacturers to unreasonably increase cement prices in a rip-off that was grossly disadvantageous to consumers, and to the government’s Build, Build, Build projects. This was prevented by government’s imposition of price controls on cement and prevented what could have been an uncontrollable increase in the prices of cement.

Early last month, the Filipino people was again caught by surprise when LafargeHolcim, Limited, Europe’s largest cement manufacturer, decided to sell its Philippine subsidiary, Holcim Philippines, Incorporated (HPI), to First Stronghold Cement Industries, Inc., a wholly owned subsidiary of San Miguel Corporation (SMC), to the tune of $2.15 billion in what is described the largest merger and acquisition deal in the country’s cement industry.

LafargeHolcim stated it was divesting its entire 85.73 percent shareholding in HPI, the largest cement maker in the Philippines which operates 4 integrated cement plants and one grinding plant, to complete its exit from what it says is a hyper-competitive business in Southeast Asia, while SMC sees this as expanding its foothold in the country’s cement industry.

SMC reportedly won the auction of HPI over Anhui Conch, the largest cement manufacturer in mainland China, in the final round of the said auction of the country’s largest cement manufacturer.

SMC reportedly owns at least 70 percent of the Pangasinan-based Northern Cement and it has a huge share in the Bulacan-based Eagle Cement. With the current set-up of ownership of the latter, the proposed merger of the SMC and HPI will definitely result to a cartel which will be grossly disadvantageous to the Filipino people based on the assessment of experts from the construction industry.

Both companies reported the deal to the Philippine Stock Exchange in separate disclosures last week but the definitive agreement was not yet submitted to the Philippine Competition (PCC), the government agency tasked to ensure that it does not violate existing competition laws, rules and regulations.

We believe the construction industry stakeholders and consumers groups in Northern Luzon were correct in its recent position that allowing SMC to buyout HPI might result to a cartel in the country’s cement industry, a situation banned by law.  Allowing SMC to monopolize the country’s cement industry will allow it to dictate prices for lack of a healthy supply competition. Aside from people suffering increased cement prices for their homes, people will be at the receiving end if important government projects cannot be built due to insufficient budgets earmarked for the building of roads and other pubic works projects because of increased cement prices.

While the SMC-HPI deal is still pending with the Philippine Competition Commission, the public must urgently call on the competition watchdog to disapprove the agreement because it will be grossly detrimental to the interest of the greater majority of the populace.

Being a Filipino corporation does not guarantee it will uphold the interest of the greater majority of Filipinos. It will still work for the greater interest of the corporation’s shareholders whose primary objective is how their money will earn profit.

Let us bring to the attention of President Rodrigo R. Duterte and the PCC that we are not in favour of the SMC-HPI deal because it will possibly create a monopoly in the country’s cement industry that is detrimental to the country’s economic gains. The expected increase in the cement prices will not be beneficial to the desired growth and will surely stall the country’s projected growth as the implementation of major projects intended to propel economic activities in the countryside will be affected.

Let us also fight to compel the government to impose the needed price control on cement to prevent cement manufacturers from unreasonably increasing their prices to allow our people to benefit from their hard earned money and for government to pursue the implementation of desired public works projects beneficial to the people living in the countryside.

Previous Post

CAR improves to fifth in PRISAA Meet

Next Post

Co-ops and Graduation

Next Post
La Trinidad Co-op Office

Co-ops and Graduation

ADVERTISEMENT

Recent News

Cabarrubias is full-pledged City Treasurer

Baguio has 10,095 registered persons with disabilities

June 6, 2025
Pacific Partnership Brings Disaster Response Training to Virac, Philippines

Pacific Partnership Brings Disaster Response Training to Virac, Philippines

June 5, 2025
Life Builder Fellowship to subsidize the SSS contributions of volunteers

Life Builder Fellowship to subsidize the SSS contributions of volunteers

June 5, 2025
Bagong Pag-asang hatid ng Social Security Act of 2018

Benepisyo sa Pagpapalibing

June 5, 2025
ADVERTISEMENT
ADVERTISEMENT
HERALD EXPRESS | News in Cordillera and Northern Luzon

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory.

Follow Us

Search

No Result
View All Result

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT

Add New Playlist

No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios