Mega Global sets P500-M expansion
Mega Global Corp., the company behind Mega Sardines, is set to embark on its biggest expansion program yet, 45 years since it started operating as an exclusive family-owned business.
During its virtual press conference on Thursday, Mega Global founder and CEO William Tiu Lim said they were looking to grow their operations by 20 percent this year, citing the sustained double-digit growth in domestic demand for its canned goods even before the new coronavirus pandemic hit.
“Demand has been outstripping supply for the past five years,” Mega Global vice president for sales and marketing Marvin Tiu Lim said. “The massive surge in the demand for sardines due to relief efforts allowed us to record a double- to triple-digit growth for a month or two across all our brands.”
The pandemic—while an unlikely source of opportunity—pushed the company to work its factories to the limit, producing two million canned goods every day to meet the requirements of local government units, nongovernmental organizations and household consumers.
It is allocating at least P500 million for expansion efforts this year, including raising the company’s canning capacity by 25 percent.
Mega Global is looking to set up more factories, innovate in manufacturing processes, and build more fishing vessels as it adapts to new logistical challenges. Included in the company’s new blueprint is the construction of a manufacturing facility in Luzon, which would allow it to expand its markets and access raw materials in the island.
Currently, about 40 percent of Mega Global’s operations are concentrated in Zamboanga. It owns the largest fishing fleet in the country that allows it to keep its trademark “12-hour catching-to-canning process,” with regional distribution hubs strategically located across Luzon, Visayas and Mindanao.
Michelle Chan, Mega Global vice president for finance, said the company was ready for new acquisitions or mergers that would bring the Mega Global brand to greater heights.
In recent years, the company has expanded its product lines to include Mega Tuna, Mega Prime and Mega Creations.
