Loading…
Sumitomo Osaka Cement Co. Ltd. acquired a 15% stake in Philcement Corp., a subsidiary of Phinma Corp., through issuance of primary shares. The investment was remitted and a share subscription agreement was signed in September 2025.
Sumitomo Osaka Cement Co Ltd will acquire a 15% stake in Philcement Corp from Phinma Corp, with the transaction expected to close before year-end.
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.