FPH injects P1B into manufacturing business | Inquirer Business
Close  

FPH injects P1B into manufacturing business

/ 12:33 PM February 05, 2016

LOPEZ-led First Philippine Holdings Corp. is beefing up its manufacturing businesses with the infusion of up to P1 billion into the First Philec group.

In a disclosure to the Philippine Stock Exchange on Friday, FPH said its board had approved the injection of P1 billion or its US dollar equivalent into First Philippine Electric Corp. (First Philec) and First Philec Inc. (FPI) in the form of loan, equity or advances.

ADVERTISEMENT

First Philec serves as an intermediate holding company for all manufacturing investments of its parent company FPH. FPI, which is engaged in manufacturing transformers, is a subsidiary of First Philec.

A pioneer and the leader in transformer solutions in the Philippines, First Philec has provided transformer solutions to the country’s power utilities, commercial and industrial businesses for more than 45 years. The company is also the largest manufacturer of amorphous transformers – or those found in electric grids – in Southeast asia.

FEATURED STORIES

FPH has interests in power generation, manufacturing operations, construction and real estate development. It also has a residual 3.95 percent stake in Manila Electric Co., the country’s largest electricity distributor.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: First Philec, First Philippine Holdings, FPH
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.