# PHINMA Corp to acquire Petra Cement for PHP500 million

PHINMA Corp, through its subsidiary Philcement Corp, signed a purchase agreement on May 20, 2024 to acquire Petra Cement Inc for PHP500 million (US$8.6 million). Philcement will operate Petra Cement's 0.5Mta plant in Zamboanga del Norte, serving the northern Mindanao market.

- Type: Acquisition
- Announced: 2024-05-22
- Where: Zamboanga del Norte, Philippines, Philippines
- Value: $8.60M (500.0M PHP)
- Status: announced
- Capacity: 0.5 million tpa
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [PHINMA Corp](https://endata.com/companies/77586.md) (acquirer)
- [Philcement Corp](https://endata.com/companies/77587.md) (acquirer)
- [Petra Cement Inc](https://endata.com/companies/77588.md) (target)

## Sources

- [cemnet.com](https://www.cemnet.com/News/story/177056/phinma-corp-to-acquire-petra-cement-for-php500m.html), 2024-05-22: "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under its legacy brand, Union Cement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.