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PF building more manufacturing plants in Philippines, eyeing ASEAN acquisitions

12 Jan

BY UNICAPITAL SECURITIES

San Miguel Pure Foods Company, Inc. (PF) plans to build new plants in the Philippines and acquire companies in Southeast Asia, as the food manufacturer sees growth picking up this year.

Purefoods president Francisco Alejo III said the company will put up 10 new manufacturing facilities across its different businesses over a 2-3 year period with capital expenditures pegged at PHP 8-10 billion a year.

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One of these is the PHP 2 billion expansion of its flour production facility in Mabini, Batangas that will add 1,200 metric tons to its capacity, almost doubling its existing capacity of 1,600 MT.

The new capacity will support the expansion of its Kambal Pandesal bakery business from more than 500 stores to 5,000 by 2020.

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Posted by on January 12, 2015 in Corporate News, PF, Stock Market

 

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