Iglo Philippines is a joint venture between local partners Horizon’s Realty Inc. and Triple Eight Holdings, Inc. owned by the Concepcion Family and by Iglo International Ltd.
Iglo International Ltd. is the international subsidiary of Integrated Global Low-temperature Operations (IGLO), Malaysia Sdn. Bhd which is a joint venture between Raymond A.E. de Graaf and the Ong Family of Haisan Resources, Bhd. Malaysia.
Iglo Philippines’ terminal 3 was inaugurated yesterday by Vice President Noli de Castro.
According to Iglo Philippines chairman Jose "Joey" Concepcion III, "Iglo Philippines is intended not only to service the cold storage requirements of the RFM and Selecta Group of companies, but also to provide logistics support to other traders involved in the food business."
De Graaf, president of Iglo Philippines, noted the growing need for such a facility.
Since 2003, de Graaf revealed, total imports and exports of frozen foods has increased from $76.2 million to $83.2 million last year and is projected to reach $95.7 million this year.
However, a growing concern for Iglo and the Cold Storage Association of the Philippines, de Graaf said, is the ever increasing cost of power which they hope the government will address.
The lack of cold storage facilities and logistics providers has been cited as one of the drawbacks to the country’s food self-sufficiency program.
Concepcion expressed hope that with Iglo’s expansion it would help in providing some of the assistance need by the agriculture and food sector.