EEI going into biotech business

Yuchengco-led construction and engineering firm EEI Corp. is diversifying into biotechnology by taking over Biotech JP Corp., a company that manufactures therapeutic food products using Japanese-patented technology.

In a disclosure to the Philippine Stock Exchange yesterday, EEI said it would acquire a 60-percent stake in Biotech JP, which uses Japanese-patented bacteria biotechnology for preserving and packaging rice as part of its off-the shelf rice products manufacturing business.

Biotech also holds patented bacteria biotechnology for increasing yields of rice plants while eliminating the use of phosphate based fertilizers which pollute farmlands and bodies of water.

“This investment is in line with the corporation’s diversification strategy and contribution to the sustainability goals of the country,” EEI said.

Based on its website, Biotech JP was a subsidiary of Biotech Japan, based in Niigata prefecture. This group researches and manufactures low-protein rice, rice grains and emergency rice.

Biotech JP is registered with the Philippine Economic Zone Authority.—DORIS DUMLAO-ABADILLA