NextGen Day

The Phinma Construction Materials Group (CMG), a division of Phinma Corporation, is spending about PHP500 million to build an insulating panel factory in Pampanga.

Eduardo Sahagun, president, and chief executive officer of Phinma CMG, stated during a press conference held after the company’s annual shareholders meeting on Tuesday in Makati City that the factory will be able to produce 1 million square meters of insulation panels annually.

According to Sahagun, this Phinma CMG project may be the largest insulation panel plant in the nation.

With the growing need from this industry, as well as other industries including homes, hospitals, and data centers, among others, he noted that the insulating panel manufacturing facility’s production will largely serve cold storage facilities.

The new company will be called Union Insulated Panel Corp., according to Danielle del Rosario, vice president of Phinma CMG’s insulated panel’s section.

“We approach it in a specific way to safeguard people and companies against the severe effects of climate change. By single-component sandwich panels, we will be able to provide effective thermal insulation and structurally sound building materials that can shorten construction times and minimize energy consumption, she added.

Del Rosario stated that the interior of these panels will be constructed of stiff foam that is flame-resistant, while the external skins will be made of steel.

She continued by saying that the new plant would be a fully automated production facility.

According to Sahagun, Phinma’s capital expenditure (capex) budget of PHP3 billion for the year includes funding for the factory that makes insulation panels.

He said that the publicly traded company has also allocated its capital expenditures (capex) to growing its real estate and hotel enterprises, as well as its educational footprint in the Philippines and Indonesia.

Christopher Tan, the country head of Phinma Education Philippines, stated that the business unit is in talks with potential partners in Surabaya and Bogor in Indonesia to run Phinma schools in these cities.

Tan said that Phinma Education currently enrolls 2,000 students in Indonesia as a result of the company’s acquisition of two colleges in Kerala, south of Jakarta.

He claimed that the business saw tremendous potential in the education sector in the neighboring nation, which has a population that is more than double that of the Philippines.

Over the course of ten years, “we’re at least looking at roughly 200,000 (students) in Indonesia,” he continued.

The conglomerate’s property and hotel divisions will both aim for growth this year.

Sahagun stated that despite the difficult business environment brought on by the coronavirus disease 2019 pandemic, the company has continued to grow in recent years.

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