Uratex builds new factory in Davao
November 24, 2014 at 08:23am
“We decided to invest in Davao because of its economic growth as well as its thriving tourism and commercial industries,” Eddie A. Gallor, executive vice-president of the RGC Group of Companies, said during last week’s official launch of the showroom, the first in Mindanao.
RGC Foam Group is the company behind the Uratex brand.
Cherry Wong-Tan, Uratex marketing director, said the Davao City manufacturing plant, being constructed at a cost of P250 million, is due for completion by June 2015. The rest of the P400 million is invested in the Davao showroom.
The company is expanding in the southern island of Mindanao -- with another showroom and plant in Cagayan de Oro City under construction -- while it is hammering out a plan for its venture in General Santos City and Butuan.
“This is part of our commitment to invest P900 million in the Visayas and Mindanao for the next years,” Ms. Tan said.
“Visayas and Mindanao accounts for 10% of our market so we are becoming aggressive in pushing for our products in these areas,” said Frederick Y. Sow, general manager for the Visayas and Mindanao.
The foam maker currently has a total of 18 plants around the country. It hopes to accelerate growth to a pace of 15% in the “next few years” from an annual 11% growth on the average.
And while the group is building more factories, Mr. Gallor said the company has no immediate plans to export its products abroad.
Source: bworldonline.com
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