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Friday, September 24, 2004
P500M tin can plant to be inaugurated Friday
A WORLD-CLASS tin can manufacturing plant will be formally inaugurated Friday with no less than First Gentleman Mike Arroyo as guest of honor.
Lucio Ong, president and chief executive officer of Genpack Corporation, said the firm is the only tin can plant in Mindanao that has food-grade coating facilities.
The plant also boasts of top-of-the-line machinery that could produce up to 800 metric tons of different can sizes every month.
It is also capable of producing easy-open cans now popularly used among canned beverages.
Genpack started operating last April but its formal inauguration will only be held Friday.
Ong said that despite the presence of three other can plants in the city, they have decided to set up business here because of the burgeoning market demand.
He said they also have a competitive edge over the other can plants because of their more efficient machine.
Already, Genpack is negotiating with a giant multinational food company for the coating of tin sheets of the said company.
Ong however declined to name the said firm but said it would be cost-beneficial for the food company if the deal pushes through.
Meanwhile, Ong also revealed that they will be putting up additional P300 capital investment for the expansion of their plant facility in the next twelve months.
The top Genpack official said they are anticipating larger demands for tin cans as the country moves to improve its share in the international market.
Roughly 90 percent of the tin cans manufactured by Genpack is used for exports by tuna canneries here.
(September 24, 2004 issue)
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