Crown Asia Chemicals wins supply deals with big property developers

CROWN Asia Chemicals Corp. bagged new supply contracts with major property developers for its PVC pipes, a Philippine Stock Exchange filing on Monday showed.

Crown Asia said it began supplying PVC pipes to Ayala Land Inc.’s mixed-use commercial projects, the Sunrise Paradigm in Pasig and the Bonifacio Stopover in Taguig. It is also providing PVC pipes to Star Mall projects in Bataan, Bulacan, Las Piñas and Laguna.

The company also noted it has been broadening its client base.

It recently bagged supply contracts for a number of public private partnership projects. These include the Naia Expressway Phases 1 and 2 and six National Housing Authority projects.

In the healthcare sector, the company said it was supplying pipes for the UST Hospital as well as several Ace Medical Hospital Facilities in Quezon City, Valenzuela City and Pateros, Rizal.

“Crown Pipes is also establishing its versatility in wider applications. We will continue to update our other project inroads,” said Derrick Villanueva, general manager of the company’s pipe division.

Crown Asia said sales as of the third quarter of 2015 was at P799.24 million, up 28 percent compared to the same period last year. Pipe group sales alone rose by almost 30 percent to P284.78 million.

Net profit from January to September this year grew to P70.5 million from P44 million during the same period last year.