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BRAND ACQUISITION. PHINMA Corp. corporate secretary Troy Luna, Philcement Corp. president and chief executive Eduardo Sahagun, Petra Cement president Paul Tan-chi and PHINMA chief financial officer EJ Qua Hiansen sign a share purchase agreement. The deal involves Philcement Mindanao Corp. paying P500 million in exchange for 100 percent of the outstanding shares of Petra Cement.Philcement Corp. , a subsidiary of conglomerate PHINMA Corp.
Petra, an affiliate of Big Boss Cement, has a manufacturing facility in Zamboanga del Norte including a cement grinding facility with a capacity of 500,000 metric tons per annum.“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,” PHINMA said.Philcement signed a manufacturing and sale agreement with Petra in January.
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