By Adrian H. Halili | BusinessWorld
July 11, 2023
D&L INDUSTRIES, Inc. has started commercially operating its manufacturing plant in Tanauan, Batangas as it issued its first invoice on July 10, the listed firm told the stock exchange on Monday.
“After facing several challenges in the form of a pandemic… our next generation facility in Batangas has finally started commercial operations,” D&L President and Chief Executive Officer Alvin D. Lao said in a statement.
“The plant has successfully moved into a soft-opening status with several production lines already up and running,” Mr. Lao added.
He said the company expects to fully operate the new facility in the coming months as it completes remaining fine-tuning works.
“This marks the beginning of an exciting journey as we venture into new global markets and manufacture higher value-added products. Our Batangas plant puts us in a good position as global demand returns,” he added.
The company said earlier that it was planning to start production by mid-2023 at the new manufacturing facility, for which it spent about P10.5 billion.
The Batangas plant, which is located on a 26-hectare property in First Industrial Township – Special Economic Zone, will enable the company to provide customized solutions and simplify its supply chain.
D&L said it is preparing to launch a full range of shelf-ready products for its export customers such as products made from coconut oil, for personal and baby care, cosmetics and beauty care, household cleaning, health and nutrition, and food and vegetable oils categories that are sustainable, natural, and organic.
“This initiative offers a plug-and-play solution for global brand owners who are looking to beef up their sustainable product offerings,” the company said.
During the first quarter, the company reported a 24% decline in net income to P594 million from P780 million the prior year when its customers beefed up inventories amid supply chain issues.
D&L is engaged in product customization and specialization for industries such as food, chemicals, plastics, and consumer product original design manufacturing.
The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use.
At the stock exchange, D&L rose seven centavos or 0.99% to finish at P7.13 a share on Monday.