CADP mulls P5-B ethanol venture
The CADP Group, one of the largest sugar producers in the country, has approved a plan to invest around P5 billion in its foray into the ethanol business and acquisition of sugar facilities.
In a disclosure to the Philippine Stock Exchange, the CADP Group said it is keen on expanding its sugar mills and existing capacities through the purchase of more milling equipment.
The group’s move to venture into the ethanol business, meanwhile, is in line with efforts to boost profitability and scout other sources of income.
“Undaunted by the speculation that local manufacturers will drop side by side as the sugar arena becomes more competitive, the group is working intensely to be present when 2010 comes. Strategies have been formulated and currently being implemented to achieve the desired targets,” CADP said in its annual report filed with the PSE.
CADP said it is working towards niche sugar products and services, aggressively marketing its total-package sugar solutions and services, developing new products that will allow it to meet the demands of its customers.
Formerly Central Azucarera de la Carlota, CADP was established in October 1918 to become one of the biggest sugar mills in the
In 2004, the company was reorganized and transformed into a full-fledged sugar holding and investment corporation.
CADP sells sugar and molasses to local markets through direct selling to various traders and entities engaged in pharmaceutical, food and beverage business.
CADP is considered a leading source in refined sugar production and has the most modern refinery in the country. Companies engaged in the same business are Victorias Milling Co., Binalbagan-Isabela Sugar Co., First Farmers and Busco Sugar Central.
CADP’s raw sugar milling operation operates two boiling houses — one in La Carlota City, Negros Occidental and the other in Nasugbu, Batangas. The company’s refinery plant for its refined sugar business is also located in Nasugbu, Batangas.
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