TODAY'S BUSINESS HEADLINES

PH stock market falls in thin trading ahead of PNoy's SONA 28-Jul-14, 4:49 PM | Krista Angela M. Montealegre, InterAksyon.com

Holcim Philippines' 2Q earnings growth lags revenue, as power costs offset strong sales 28-Jul-14, 4:03 PM | Krista Angela M. Montealegre, InterAksyon.com

Meralco reports weak demand in 1H, expects 'Glenda' to soften 3Q results 28-Jul-14, 3:45 PM | Euan Paulo C. Añonuevo, InterAksyon.com

Gov't reverts to budget deficit in June as spending surges 28-Jul-14, 11:23 AM | InterAksyon.com

Absence of trading gains pulls down BDO's 6-month net income 28-Jul-14, 10:36 AM | Krista Angela M. Montealegre, InterAksyon.com

Pasar smelter plant in Leyte sustains damage from 'Yolanda'

File photo of PASAR plant during inauguration graced by President Benigno Aquino III and Rep. Lucy Torres.

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MANILA - The Philippines' lone copper smelter and refinery today said it sustained damage to its plant in Leyte after Typhoon 'Yolanda' cut through the province over the weekend.

In a statement, the Philippine Associated Smelting and Refining Corp (PASAR) said it has yet to detemine the extent of the damage pending the results of inspection.

But based on preliminary assessment, PASAR said its facility in Isabel town "sustained heavy structural damage." The company said it may take 4-6 weeks before operations resume.

"Our thoughts are with those employees and their families who have been impacted by Yolanda. PASAR will offer all necessary support where we can," the company said.

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