This marks the return of one of Japan’s oldest cement makers, with roots dating back to 1907, to the Philippines while supporting Philcement’s expansion plans.
The purchase price was not disclosed on Wednesday.
Before the deal, Sumitomo Osaka Cement's only notable exposure in the country was a 9.22-percent stake in Holcim Philippines, which it sold ahead of Holcim’s delisting in 2023.
PHINMA said it will retain majority control of Philcement even after the investment.
The company added that the partnership aligns with its strategy to expand cement manufacturing and ensure a steady, high-quality supply under its Union Cement brand for Filipino consumers.
—Edited by Miguel R. Camus
