MANILA -- Listed D&L Industries Inc., a producer of specialty food ingredients, plastics and oleochemicals, targets to forge more partnerships with large multinational firms which are keen on expanding their presence in Asia, as it ramps up its export business.
D&L President Alvin Lao said there are large multinational food companies seeking to expand their presence in the Philippines as well as other parts of Asia, but do not want to invest in putting up manufacturing plants, or maintain local offices in all of them.
”We can represent them. We can be the distributor for their products in Asia or we can manufacture their products for them,” Lao told reporters after the firm’s stockholders’ meeting on Monday.
“These are examples of other large customers that we could also work together with,” he said. Lao cited as examples D&L’s partnerships with Ventura Foods and Bunge Ltd. wherein the company serves as their representative in the Philippines and their supplier of export products for Asia.
Ventura is a United States food manufacturer, while Bunge is a leading global agribusiness and food company.
Lao said three years ago, D&L had set a goal deriving half of its revenues from its overseas business.
It reached 22 percent as of the first quarter of 2018, he noted.
“We do have a lot more projects both with our existing export customers like Ventura, Bunge as well as some other potential new clients,” he said.
Lao further said the company currently exports products to China, Hong Kong, Japan, Indonesia and other countries in the Asia Pacific region.
“We are also exporting to the US, we are exporting to Europe, so we are not limiting ourselves only in Asia. We are looking at exports outside of Asia as well,” he added. (PNA)
