Splash allots P240M for Nigerian plant facilities

Manila, Philippines - Filipino-owned beauty and personal care products manufacturer Splash Corp. has earmarked more than P240 million for the construction of plant facilities in Nigeria.

In a disclosure to the Philippine Stock Exchange, Splash said a portion of the amount will be used to acquire real property in Nigeria.

Another P40.5 million has been earmarked for Splash Foods Corp. to set up a cold storage plant and meet other requirements for HACCP accreditation facilities.

Splash earlier signed a P1.12-billion corporate notes facility agreement with Security Bank Corp. and Robinsons Bank. Proceeds would be used to refinance P600 million out of its P800 million loan maturing this year.

Being consistently in the Top 300 corporations in the Philippines since 1998, Splash has established its reputation as one of the formidable players in the Philippine personal care industry. Splash carries the brands Extraderm, Maxi-Peel, and Skin White, as well as Bioskin, one of the fastest growing skin care brands in the country.