Philippine CanningEssay Preview: Philippine CanningReport this essayRestituto Dimaalis is VP Corporate Planning of Philippine Canning Corp. (PCC), one of the biggest fish canning companies in the Philippines with Sales of about PhP 12.0 B per annum. Its main product is tuna with the cannery located in General Santos City, South Cotabato. Its secondary product line is sardines with the cannery located just outside Zamboanga City. The companys head office is located in Makati.
Reviewing company performance over the past few years, Resituto thought the picture looked good. The cannery in Gen San, together with the corresponding fish port was new, having been completed 5 years ago. The company had invested a little over PhP 500.0 M in this project but it seemed to be paying off both in terms of increased efficiency as well as capacity. Most of the machinery and systems (60% of cost) was financed through 10 yr. US$ denominated debt while 30% of the balance was funded through long term PhP denominated debt and the rest through Retained Earnings. The sardine cannery in Zamboanga had just been refurbished with modern equipment, the company having borrowed US$ 2.0 M in long term debt to finance it. However, efficiency and capacity were up also. The company had also just concluded negotiations for the supply of tin for their cans for terms that were quite favorable with a supplier in Indonesia.
Larger
The company went on to pay approximately US$ 12,000 to help the government in its efforts to provide water and health services and improve the public safety. These efforts are now starting to pay off in a much broader perspective with the ongoing development of food security, energy security, and water quality and health services which have become the focus of attention for new investors.
It would be interesting to see the company consider providing services to farmers who have lost their fields in the drought but are looking again for water under a drought-induced drought situation.
It really brings this up that there is little concern about the company’s capacity to produce for export as well as the government’s need for a food security strategy. In some years the government needs to ensure that the quality of water, clean air, sanitation, and safe sanitation that are supposed to be a part of their food security strategies remain. The company has the ability in recent years to provide that kind of water that their government can and should provide to ensure that there is sufficient demand and that there are clear and measurable impacts on local people.
The company’s success in developing sustainability initiatives has also resulted in an investment of 50% in bioelectronics on the order of 20m Phy.
This is how Resituto described themselves in 2008, in a conference call:
• With the aid of a new water collection system, Resituto plans to install an artificial water system in Canyons in Sierra Madre next week to allow the public and local governments to access drinking water that is safe and available to them both at no extra cost to their health and to their families.
• To maintain its natural natural resources, Resituto can offer organic raw materials, and the facility will use this source of water after the company completes the process, which will allow farmers to sell their water now that it has been treated at a competitive price. Resituto hopes to reduce irrigation costs (and use of irrigated water) for all food crops and to help meet growing demand for their crops and the growing population.
• Resituto is committed to continuing its current operations as their natural resources are fully reclaimed.
• Resituto’s commitment to its natural resources has been well documented by recent research, which is supported by the US Geological Survey and other government agencies, including the Federal Reserve, USDA, and several state government agencies. http://www.mfs.fed.usf.gov/documents/Resituto_National_Energy_System_Reports.pdf.
Since Resituto operates its water storage facility in Canyons, the company provides water to every public and private consumer in Sierra Madre and is proud to share this water well with people who need it. In our country, we need to ensure our citizens have quality food. A new approach to delivering water at reasonable prices and in a transparent manner ensures that our consumers deserve food that is a little bit better. I am very proud to be a part of this collaboration, and look forward to sharing my experience of working with Resituto on sustainable food supply and a healthier future.