Eagle Cement Corp. on Friday said it commits to boosting cement production upon partially resuming its plant operations in Bulacan as the construction of infrastructure projects in the country also returned after the easing of government-imposed quarantine.
“We are starting to ramp up production as local demand for cement picks up following the easing of restriction in markets that we serve. We fully support government’s call to prioritize critical infrastructure projects to help reboot the economy,” Eagle Cement President and Chief Executive Officer Paul L. Ang said in a statement.
The listed cement manufacturer temporarily closed its plant in Barangay Akle in San Ildefonso on March 18 following a strict lockdown imposed by the government in Luzon.
The company reported a 25% drop in net earnings in the first quarter due to reduced construction activities. Its income fell to P1.2 billion from the P1.6 billion recorded in the same period a year ago.
As its workers returned to work, Eagle Cement said it put in place health and safety protocols, including a reverse transcription polymerase chain reaction (RT-PCR) testing for coronavirus disease 2019 (COVID-19) to all its plant personnel.
It is also looking to extend assistance for COVID-19 testing to its host communities through the local government, apart from delivering relief packages to them.
“The health and safety of our employees, business partners and our host communities are our utmost priority. We remain committed to conducting a regular RT-PCR testing and we will continue to ensure a safe workplace with strict safeguard measures in compliance with the government’s guidelines,” Mr. Ang said.
On Friday, shares in Eagle Cement rose by 6.09% to close at P9.58 each. — Adam J. Ang