D&L Industries Inc., the country’s largest specialty foods ingredients, plastics and oleochemicals company, has earmarked up to P420 million for 2017 primarily to fund the group’s working capital requirements.
D&L Industries president Alvin Lao said during the annual stockholders’ meeting capital spending remained stable, with the group still finalizing plans to expand the production capacity.
Lao said the company would make an announcement on the expansion within the third quarter of the year.
“While plant capacities are not yet at critical levels, we are approaching the point where we need to plan ahead since it will take two to three years to expand and we do not want to be caught unprepared,” Lao said.
The planned expansion is in preparation for the expected increase in demand for specialty food ingredients, plastics and chemical products from the company’s clients both here and abroad.
Meanwhile, D&L Industries has been ranked second on Campden FB’s Top 50 Global Challengers, a list of family businesses with impressive growth rates and turnover of between $200 million and $6 billion.
D&L Industries was among two Philippine companies featured on the list, given its history of consistent earnings growth and profitability.
“It’s an honor to be mentioned alongside such outstanding business families from all around the world,” Lao said.
“Our first generation were entrepreneurs and built a strong foundation for our business. We in the second generation are working hard to keep that spirit alive, as evidenced by our company-wide focus on R&D and innovation. Going forward, we want to set the right framework for our business to prosper beyond the third and even fourth generation,” he added.
Campden FB (formerly Families in Business) is a London-based magazine which covers family businesses across the world. In its 70th special edition copy, the magazine featured a list of top 50 family business leaders who are making a mark in different parts of the globe.
Campden FB evaluated the featured leaders based on their adherence to exceptional corporate governance and succession planning and outstanding entrepreneurial talent in the context of the family business.