The Consunji Group has successfully completed its acquisition of a majority stake in CEMEX Holdings Philippines Inc., further expanding its footprint in the country’s infrastructure sector. The acquisition was finalized at a purchase price of USD272 million, securing nearly 90 percent ownership in CHP, which operates under the Cemex Asian South East Corporation (CASEC) banner. The transaction officially closed on 2 December 2024.
Through its subsidiaries—DMCI Holdings, Inc., Semirara Mining and Power Corporation, and Dacon Corporation—the Consunji Group now holds a 51 percent effective stake in CHP, while SCC and Dacon account for 10 percent and approximately 29 percent, respectively. The acquisition solidifies the group’s strategic expansion into the cement manufacturing sector, positioning it for long-term growth.
“We are excited to welcome CEMEX Holdings Philippines into the DMCI group,” said Isidro A. Consunji, chairman of the board of DMC, SCC, and CHP. “This acquisition aligns with our core expertise in engineering and construction and enhances our commitment to the infrastructure development of the Philippines.”
CHP, which fully owns APO Cement Corporation and Solid Cement Corporation, operates with a combined annual production capacity of 5.7 million tons of cement. This capacity is set to increase to 7.2 million tons by early 2025 with the completion of an expansion project at Solid Cement Corporation. The acquisition positions the Consunji Group to take advantage of growing demand for cement in the Philippines’ booming infrastructure sector.
Herbert M. Consunji, DMC board advisor and executive vice president, has been appointed as president and CEO of CHP. He is tasked with leading efforts to streamline operations and unlock synergies across the DMCI ecosystem.
“Our focus will be on enhancing CHP’s logistics network, optimizing the product mix, managing production costs, and leveraging synergies within the broader DMCI group,” said Herbert M. Consunji.
The acquisition of CHP is expected to strengthen the DMCI ecosystem, tapping into markets for coal, long-term contracted power capacity, fly ash, and cement products—key elements that will bolster the group’s overall growth strategy.
As the Consunji Group moves to solidify its leadership in the construction and infrastructure space, the deal represents a significant step in its ongoing diversification and commitment to contributing to the Philippine economy.
