Lao family bankrolls P2-B idea hub in QC
The Lao family, controlling shareholder of D&L Industries, is investing around P2 billion to build a new state-of-the-art research hub in Quezon City that seeks to explore new products and technologies outside the firm’s portfolio.
Jadel Research Center (JRC), targeted to be operational by 2021, is envisioned to house new research initiatives in areas outside DNL’s current fields of research. D&L’s long-term growth is supported through a research pipeline, but its risk exposure is minimized as it will have no financial or ownership stake in JRC.
“We’ve been planning this for some time,” D&L president Alvin Lao said in a briefing, adding this new research hub would have “more liberty and freedom to explore research” outside of D&L’s current client base.
While D&L already serves existing customers in the food, chemical, plastics and aerosol sectors, Lao said there were other areas it could get into.
“We are very excited to embark on this strategic project,” Lao said. “We recognize that R&D is at the core of our business and represents the biggest source of earnings growth and margin expansion. This investment represents our family’s steadfast commitment to both R&D and innovation, allowing us to achieve sustainable growth in new and existing businesses and increase our relevance to customers.”
Lao said JRC would hire a “sizeable” group of engineers, chemists and scientists to run the research hub, which will be housed in an eight-story 20,000-square-meter LEED-certified building adjacent to D&L’s headquarters in Quezon City.
LBL Prime Properties Inc., the property arm of the Lao Family, will handle the project planning and construction. The project broke ground on Aug. 8.—DORIS DUMLAO-ABADILLA
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