CAGAYAN DE ORO CITY—Uratex Philippines, said to be the country’s largest foam manufacturer, recently opened its P500-million production plant here, its first manufacturing facility in Mindanao.
Eddie Gallor, executive vice president of the Robert G. Cheng Group of Companies, Uratex’s mother company, said the investment showed the company’s confidence in the growing economy of Mindanao.
The foam plant, located in an industrial area here, was designed to produce 10,000 foam units and beds per day but has been producing 1,000 units per day since the opening on April 11, according to Frederick Sow, Uratex’s general manager for Visayas-Mindanao operations.
Sow said the plant was being manned by 50 skilled personnel.
Gallor said Uratex decided it was time to expand its manufacturing business to Mindanao because the island-region was showing “fast economic growth and there was increasing purchasing power among its residents.”
Sow said the company chose the city for its “strategic location and quick business processing.”
Gallor added that it was an easy choice to establish the plant in this city because of accessibility.
From here, Uratex can conduct business in other fast growing cities, such as Butuan in the north, Iligan City in the south and Bukidnon in the east.
“Cagayan de Oro has always been a melting pot because of its accessibility, which makes it an attractive base for businesses in Mindanao,” Gallor added.
“The opening of the production plant on April 11, 2015 is an affirmation of Uratex’s commitment to invest in growth areas to help drive and spur economic growth,” he said.
Sow said Uratex was already looking forward to increasing its initial investment.
“This is just the beginning of our expansion here in Mindanao and as a diversified company, there will be future investment and expansion,” he said.
“We are bullish on the economy of Mindanao and we are not stopping with the production plant in this city, we are also establishing showrooms in General Santos, Butuan, Iligan,” Sow added.