Concepcion unit to diversify offering

The commercial arm of the Concepcion Industrial Group (CIC) is planning to diversify its product offerings to include security systems and other building solutions to sustain its robust growth and further cement its dominant presence in the local market.

Concepcion Building and Industrial Solutions (BIS), with its current portfolio of offerings, has managed to post double-digit sales growth in the first quarter at 19 percent to about P700 million from a year ago, said Rajan Komarasu, group director for CIC BIS.

As of end March, the BIS also recorded P15 billion worth of projects in the pipeline, which reflected a 100-percent increase from a year ago. Another P1.7 billion worth of backlog projects are set to be delivered by the BIS this year.

“We have a backlog of P1.7 billion, which means that we have received customer orders but we have not translated these into sales, which will come in the future quarters. We also have projects in the pipeline, which means that we have quoted on the projects that have yet to be awarded. This means that we are still negotiating the contracts,” Komarasu explained.

“We are in the right direction and these (expected projects) provide more confidence to customers and developers. They see more and more the value of working with us as we move away from the product focus to service focus instead, or what we call the turnkey approach,” he pointed out.