Phoenix unit targets do-it-yourself asphalt sales
PHOENIX Asphalt Philippines, Inc. is targeting do-it-yourself consumer asphalt sales after launching its cold mix asphalt product on Tuesday.
The company will initially target large construction companies, tollway operators and distributors to small businesses before expanding to supermarkets by the end of the year.
Cold mix asphalt, which does not require heating, is new to construction firms in the country, Phoenix Asphalt General Manager Julius Jerry Aguas said at the virtual launch event.
“For hot mix, it’s really for large-scale repairs in terms of road maintenance and road construction. But for the cold mix, it’s really meant for small scale works.”
A unit of Dennis A. Uy-led Phoenix Petroleum Philippines, Inc., Phoenix Asphalt will be selling the new products in 20-kilogram bags that can cover one square meter of space with at least two-centimeter thickness.
“It’s basically a do-it-yourself product,” Mr. Aguas said. “The plan is engaging these targeted hypermarkets before the year ends so that the product is really readily available.”
Phoenix Petroleum plans to focus on its retail and liquified petroleum gas (LPG) businesses to drive growth over the next five years.
Phoenix Petroleum shares went up eight centavos or 0.62% to close at P13.08 apiece on Tuesday. — Jenina P. Ibañez