BIZ BUZZ: BPI director brings Bahco files to PH

Wilfred Co was elected last month to the board of the Bank of the Philippine Islands (BPI), representing the Gokongwei group, which got board seats in the country’s oldest bank following the merger with Robinsons Bank Corp.

But Co is not just busy ensuring that the Gokongwei group’s voice is heard on the board of Southeast Asia’s oldest bank and the fourth largest in the country in terms of assets.

These days, Co is particularly excited about the relaunch of the Bahco brand of chainsaw files, through a partnership between Snap On Inc., a hand tools company founded in 1920 in Milwaukee, and Herco Trading Inc., a leading hardware distribution company with over 100 years of experience.

Co, who heads Herco Trading, said he expects sales of the chainsaw files to rise “with the weakening of the El Niño weather phenomenon and the expected development of La Niña, which will bring heavy rains and typhoons to our country. “There will be a marked increase in the use of chainsaws. The Bahco chainsaw file is an indispensable tool for keeping chainsaws sharp and ready for any emergencies,” he added.

Herco Trading is the local distributor of Snap On’s most popular product in the Philippines: the Bahco Sandflex Bi-metal hand hacksaw blade with the famous “fish & hook” mark that has an annual demand of millions of pieces.

Aside from this, Herco Trading is also the trusted partner of such brands as WD40, 3M Abrasives, Briggs & Stratton, Kwikset, Stanley, Yale, Bosch, Oxo, Rubbermaid, Nicholson, Devcon and California Scents. —TINA ARCEO-DUMLAO

A number of firsts

SP New Energy Corp. (SPNEC) marked a couple of firsts when the listed solar firm held its annual stockholders’ meeting last Friday.

This was the first time SPNEC convened its stockholders, albeit virtually, since it became an entity under tycoon Manuel V. Pangilinan through listed power giant Manila Electric Co. (Meralco).

Interestingly, this was also the first time that Pangilinan presided over the meeting to discuss various matters concerning SPNEC.

The company also welcomed Lance Gokongwei, president and CEO of JG Summit and director of Meralco, as one of its board members. —JORDEENE B. LAGARE