Aboitiz Equity Ventures
Wikimov (talk) 06:44, 28 May 2018 (UTC)
Aboitiz & Company, Inc. (ACO) is a privately held company of the Aboitiz family...[1] founded in Ormoc, Leyte by Paulino Aboitiz in 1901 as an abaca trading and general merchandising business.(1) It was originally integrated as Aboitiz y Compañía Incorporada, and was later renamed to its English translation, Aboitiz & Company, Inc., in 1935. The company has since expanded their business to include maritime transport, industry and machinery, power generation and distribution, real estate, marketing, and manufacturing (2). [2]
History[edit]
Aboitiz & Company, Inc. traces its roots to the family business of Spaniard Paulino Aboitiz and his wife Emilia Yrastoza, who traded abaca fiber and operated a general merchandise store in Ormoc, Leyte, a rural province in the Philippines(3).[3]
In 1901, Paulino entered into a partnership with Jose Muertegui to establish Muertegui y Aboitiz Compañía. While originally in the business of hemp production; trading cash crops such as abaca and copra, and providing general merchandise goods, the partnership later purchased a ship in 1907 and began transporting their goods to neighboring provinces as production increased(4).[4]
Following the death of Aboitiz in May 1916 and Muertegui’s decision to return to Spain, the two eldest Aboitiz sons, Ramon and Guillermo, bought out Muertegui’s shares to form a new partnership, Viude e Hijos de P. Aboitiz (5).[5] In 1918, the brothers purchased a steam launch from Smith, Bell and Company, marking their venture into maritime passenger transport. The new partnership’s first route operated from Cebu to Leyte(6). [6]
In 1920, the Aboitiz brothers partnered with Portuguese national Arnaldo F. Silva to form the corporation Aboitiz y Compañía Incorporada . The company would later expand its interests into power generation and distribution, heavy industry, and machinery. It assumed its English trade name, Aboitiz & Company, Inc., in 1935(7).[7]
After World War II, Aboitiz & Company’s shipyard and engineering services were contracted by the United States Navy for two years, allowing the company to retain its maritime transport capabilities and to continue to develop its growing interest in banking, energy, and real estate. (8)[8]
Management of the Aboitiz & Company, Inc. has since remained within the family, from Ramon Aboitiz, to his son, Eduardo; to Ramon’s brother, Luis; and eventually, to Eduardo’s son, Jon Ramon Aboitiz (9)(10).[9] [10] By September 1989, the different companies under the Aboitiz group formed the holding company Cebu Pan Asian Holdings, Inc., which was renamed to Aboitiz Equity Ventures, Inc. in December 1993. The company then opened its ownership to the general public through an initial offering of its stocks on in November 1994(11)(12). [11] [12]
Aboitiz Equity Ventures[edit]
| ISIN | 🆔 |
|---|---|
| Industry | Electric Power, Real Estate, Banking and Finance, Food, Construction |
| Founded 📆 | 1901 in Cebu, Philippines |
| Founder 👔 | Paulino Aboitiz, Jose Muertegui |
| Headquarters 🏙️ | , NAC Tower, Bonifacio Global City, Taguig City , Philippines |
Area served 🗺️ | South East Asia |
Key people | Erramon I. Aboitiz (President & CEO) |
| Members | |
Number of employees | |
| 🌐 Website | http://aboitiz.com/ |
| 📇 Address | |
| 📞 telephone | |
Aboitiz Equity Ventures (EVO) is the public holding and management company of Aboitiz & Company, Inc. (ACO)(13)(14).[13] [14] Initially incorporated as Cebu Pan Asian Holdings, Inc., the company changed its name to Aboitiz Equity Ventures in December 29, 1993, and has been public since December 16, 1994. Aboitiz Equity Ventures operates through subsidiaries across different industries including power generation and distribution; banking and finance; food production; integrated transport and logistics; construction; and property development(15). [15] Based in Manila, Philippines, the company has begun expanding their ventures, particularly in power and food production, successfully penetrating various countries in Southeast Asia(16)(17). [16] [17]
Power Generation, Distribution, and Retail Electricity Services[edit]
Aboitiz Power Corporation[edit]
Aboitiz Power Corporation is a publicly-held company and a subsidiary of Aboitiz Equity Ventures (EVO) that holds investments in power generation (renewable and nonrenewable energy sources), distribution, and retail electricity services(18).[18] Incorporated on February 13, 1998, the company officially opened ownership to the public with an initial offering of common stock in July of 2007(19). [19]
The business can be traced back to the slow accumulation of power and ownership the family had across different energy-generating companies all over the country. It began in 1918 with the Aboitiz family’s 20-percent ownership of the Visayas Electric Company (VECO), and continued in 1930 as Aboitiz Company, Inc. acquired Ormoc Electric Light Company and Jolo Power Company, which they would later convert to electric cooperatives in 1978. The company further strengthened its hold on power distribution in the southern region of the country in 1946 through acquisition of the Davao Light and Power Company(20).[20]
Power Generation[edit]
The company owns ventures in both renewable and non-renewable energy.
Renewable Energy[edit]
- Hedcor - Hedcor is a fully owned subsidiary of the Aboitiz Power Corporation, which focuses on generating renewable energy from run-of-river hydropower systems(21).[21] Hedcor currently manages and operates 22 hydropower plants across the Philippines(22).[22]
- SN Aboitiz Power (SNAP) - SNAP is a joint venture between SN Power and the Aboitiz Power Corporation, the company specializes in energy generation through using the stored energy of large hydropower plants and reservoirs(23)(24).[23] [24]SNAP currently operates the Magat Hydro Power Plant located in Isabela, the Ambuklao Hydro Power Plant and the Binga Hydro Power Plant, both located in Benguet(25). [25]
- AP Renewables, Inc. - Aboitiz Power Renewables, Inc. is a subsidiary of the Aboitiz Power Corporation that focuses on geothermal energy production in the country. AP Renewables, Inc. currently has two plants in operation, one in Batangas, and one in Albay(26).[26]
- Cleanergy - Cleanergy is Aboitiz Power Corporation’s brand of clean and renewable power. The have also erected the Cleanergy Center, an educational facility in the Makban Geothermal Power Plant in Laguna, which advocates the benefits of renewable energy(27).[27]
Non-Renewable Energy[edit]
- Therma Inc. - Therma Inc. is a subsidiary of the Aboitiz Power Corporation, which specializes in coal-fired plants across the country. Currently, Therma operates in Quezon, Davao City, and Davao del Sur(28).[28]
- Therma Marine, Inc. - Therma Marine, Inc. is a subsidiary of the Aboitiz Power Corporation that operates two power barges in Maco, Compostela Valley, and Nasipit, Agusan del Norte. The barges operate to bring additional power supply to Mindanao when needed(29).[29]
- Therma Mobile, Inc. - Therma Mobile, Inc. is a subsidiary of the Aboitiz Power Corporation that supplies power to various areas of Luzon through four power barges, located in Navotas(30).[30]
- East Asia Utilities Corporation - East Asia Utilities Corporation is a joint venture between Aboitiz Power Corporation and El Paso Philippines Energy Company Inc. East Asia Utilities Corp. operates four land-based heavy fuel oil engines in Cebu that help power the Luzon and Visayas grids(31)(32).[31] [32]
Power Distribution[edit]
Aboitiz Power Corporation owns several distribution utilities that operate across the regions of the Philippines and currently composed of the following(33):[33]
- Subic Enerzone Corporation
Subic Bay, Freeport Zone, Zambales
- San Fernando Electric Light & Power Co., Inc.
San Fernando City, Pampanga
- Lima Enerzone Corporation
Lima Technology Center, Malvar, Batangas
- Visayan Electric Company, Inc.
Cities of Cebu, Mandaue, Talisay and Naga; municipalities of Minglanilla, San Fernando, Consolacion and Liloan; and 232 barangays in the province of Cebu
- Balamban Enerzone Corporation
West Cebu Industrial Park (WCIP)- Special Economic Zone, Balamban Cebu
- Mactan enerzone Corporation
Mactan Economic Zone II (MEPZ II), Basak, Lapu-Lapu City, Cebu
- Cotabato Light and Power Company
Cotabato City, selected municipalities of Datu Odin Sinsuat and Sultan Kudarat
- Davao Light and Power Company, Inc.
Davao City, Davao del Sur; selected areas of Panabo City; municipalities of Carmen, Dujali, and Sto. Tomas in Davao del Norte
Retail Electricity Services[edit]
Aboitiz Power Corporation is also in the business of providing the final sale of electricity to consumers across the market(34) [34] in the Philippines. See the following list of retail electricity service providers:
- Aboitiz Energy Solutions, Inc. (AESI)
- Advent Energy Inc. (Advent Energy)
- Prism Energy Inc. (Prism Energy)
- SN Aboitiz Power – Res, Inc. (SNAP-RES)
Banking and Finance[edit]
UnionBank of The Philippines[edit]
UnionBank of the Philippines, or more commonly known as UnionBank, is a publicly-listed universal bank. It is one of the largest banks in the Philippines, ranking seventh in terms of assets after its merger with former competitor International Exchange Bank(35)(36). [35] [36] UnionBank shares ownership between the Aboitiz Group of Companies, Insular Life, and Social Security System. Operations began in 1981 and it officially became a commercial bank on January 19, 1982. It is also manages the E-Card accounts of members of the Government Service Insurance System (GSIS)(37). [37] Its other business includes Treasury services & capital markets, Internet banking, consumer finance and distribution network.
City Savings Bank[edit]
City Savings Bank (CSB) is the thrift bank subsidiary of UnionBank of the Philippines and a member of the Aboitiz Group of Companies. Established in Cebu in 1965, CSB was originally a savings and loan bank under the name “City Savings and Loan Association”. It was the first of its kind to be organized under the “Savings and Loan Association Act” or Republic Act number 3779(38).[38] With efficient operations in the thrift banking industry, CSB offers the lowest non-performing loans and highest capitalization levels for any savings bank(39). [39] It offers a roster of traditional products and services, which include deposit products such as savings, current/checking, and time deposit accounts(40). [40]
PETNET[edit]
PETNET is the country’s largest Western Union agent network with its 2,200-branch network composed of company-owned and sub-agent locations. PETNET was established on August 12, 1998, with the purpose of expanding the network of Western Union(41).[41] In mid- 2015, Aboitiz Equity Ventures entered as majority owner of the company. It offers foreign exchange trading services, bills payment, airline ticketing, cell phone loading services, and micro insurance(42)(43). [42] [43]
Food Production[edit]
Pilmico Foods Corporation[edit]
Pilmico Foods Corporation is the food subsidiary company of Aboitiz Equity Ventures. Established in 1962, Pilmico is now one of the largest flour milling companies in the country(44).[44] Formerly known as Pillsbury Mindanao Flour Milling Co., the company changed its name in May 1990. The company primarily engages in the production of flour and wheat by-products. Their brands include Wooden Spoon, Sun Moon Star, Sunshine, Glowing Sun, Kutitap, Goldstar, and Megastar(45). [45] Pilmico has also ventured into animal feeds and swine production since establishing these businesses in the 1990’s. In 2014, the company acquired Vinh Hoan Feeds, an aqua feeds plant in Vietnam, marking the company’s expansion into the international market(46)(47). [46] [47]
Infrastucture[edit]
Aboitiz Infracapital, Inc.[edit]
Aboitiz Infracapital, Inc. (AIC) is a business leg under Aboitiz Equity Ventures that takes on all infrastructure and infrastructure-related investments of the company. AIC’s growth strategy focuses on major public infrastructure, which includes building of roads, airports, railway and water systems(48)(49).[48] [49]
Republic Cement Group[edit]
Republic Cement Group manufactures, develops, and sells cement, marble, concrete aggregates, concrete products, and building materials primarily sold to the Philippine market(50).[50] Established in 1955, the company was formerly associated with the French industrial company Lafarge, and is now backed by Aboitiz Equity Ventures and CRH plc, a partnership that acquired much of Lafarge’s assets in the country. Republic Cement Group is now comprised of the following businesses: Republic Cement & Building Materials, Inc., Republic Cement Iligan, Inc., Republic Cement Mindanao, Inc., and Republic Cement Services, Inc.(51) [51]
Apo Agua Infrastructure Corporation[edit]
Apo Agua Infrastructure Corporation is a joint venture between Aboitiz Equity Ventures and J.V. Angeles Construction Corporation(52).[52] Apo Agua Infrastructure Corporation is in the business of building bulk water facilities and providing water supply services throughout the country(53). [53]
Land[edit]
Aboitiz Land, Inc.[edit]
Aboitiz Land, Inc. is the subsidiary of Aboitiz Equity Ventures that engages in designing and developing distinct communities for residential, industrial, and commercial use, as well as providing property management services (54).[54] The company was founded in Cebu City in 1994, and was originally named “ACOLAND, Inc.” The company changed its name to Aboitiz Land Inc., in October 2000(55). [55]
Residential Projects[edit]
-North Town Woods
-North Town Homes
-Kishanta
-Mahogany Grove
-Briza
-Molave Highlands
-The Persimmon Studios
-Priveya Hills
-Pristina North
-Amoa
-Almiya
-Ajoya
-Foressa
-Seafront
Commercial Projects[edit]
-The Outlets at Pueblo Verde
Industrial Projects[edit]
-Cebu Industrial Park Developers Incorporated
-Mactan Economic Zone II (MEZ II)
-LiMa Land, Inc.
LiMa Land Incorporated[edit]
In 2014, Aboitiz Equity Ventures acquired LiMa Land Incorporated from Marubeni Corporation by purchasing the remaining 40 percent of shares, bringing their total ownership to 100 percent(56)(57).[56] [57] LiMa Land Incorporated is in charge of operating, providing infrastructure, and supporting solutions to LiMa Technological Center, a 590-hectare industrial park and special economic zone, located in Batangas(58). [58]
Aboitiz Construction[edit]
Aboitiz Construction, (formerly Metaphil) is a construction company owned by the Aboitiz Group that specializes in project management and projects involving large civil works, industrial piping works, electromechanical works, and steel fabrication(59)(60).[59] [60] The company was established in 1978 and is now comprised of two companies: Aboitiz Construction Group, Inc. (ACGI) and Metaphil International, Inc. (MII). ACGI specifically caters to clients with commercial shipping requirements, while MII handles special shipping requirements via barges and large shipping vessels(61). [61]
Tsuneishi Partnership[edit]
TSUNEISHI HEAVY INDUSTRIES (CEBU) Inc. is a joint venture between Japan-based shipbuilder Tsuneishi Group and the Aboitiz Group of Companies, with 80-percent and 20-percent stakes, respectively(62).[62] The company is in the business of building merchant ships of up to 180,000 deadweight tons using high-grade quality and technology. Aside from production, the company is also in charge of managing and expanding their shipyard located in Balamban Cebu(63)(64). [63] [64]
References[edit]
- ↑ {{cite web|url=http://aboitiz.com/about-us/aboitiz-and-company%7Cwebsite:Aboitiz & Company|
- ↑ Sino-Cruz, Irene. "Aboitiz y Compania, the history of a Spanish business in Cebu, Central Philippines". Filipino Kastila. Retrieved 12 June 2017.
- ↑ "About Us". Aboitiz.
- ↑ Sino-Cruz, Irene (June 10, 2001). "Aboitiz y Compania, the history of a Spanish business in Cebu, Central Philippines".
- ↑ Marciano, de Borja (September 2014). LOS VASCOS EN FILIPINAS (PDF) (1.a, septiembre de 2014 ed.). University of Nevada Press, MS 0166, Reno, NV 89557-0166, USA: Euskal Autonomia Erkidegoko Administrazioa. p. 721. ISBN 978-84-457-3337-0. Search this book on
- ↑ Sino-Cruz, Irene (June 10, 2001). "Aboitiz y Compania, the history of a Spanish business in Cebu, Central Philippines".
- ↑ Sino-Cruz, Irene (June 10, 2001). "Aboitiz y Compania, the history of a Spanish business in Cebu, Central Philippines".
- ↑ Sino-Cruz, Irene (June 10, 2001). "Aboitiz y Compania, the history of a Spanish business in Cebu, Central Philippines".
- ↑ "Directors and Management". PSE Electronic Disclosure Generation Technology.
- ↑ Morella/France-Presse, Cecil/Agence (March 22, 2010). "House of Aboitiz: Basques who helped build the Philippines". ABS-CBN News. Retrieved March 21, 2010.
- ↑ "Aboitiz Equity Ventures, Inc". PSE Electronic Disclosure Generation Technology.
- ↑ "ABOITIZ EQUITY VENTURES, INC". PhilippineCompanies.
- ↑ "Aboitiz Equity Ventures". Aboitiz.
- ↑ "Directors and Management". PSE Electronic Disclosure Generation Technology.
- ↑ "Company Overview of Aboitiz & Company, Inc". Bloomberg.
- ↑ "Company Overview of Aboitiz & Company, Inc". Bloomberg.
- ↑ PNA (October 24, 2016). "Aboitiz Equity expanding presence in Southeast Asia". Concept News Central.
- ↑ "About Us". Aboitiz Power.
- ↑ "Aboitiz Power Corporation". PSE Electronic Disclosure Generation Technology.
- ↑ "About Us". Aboitiz Power.
- ↑ "Aboitiz Power". Hedcor, Inc.
- ↑ Tubadeza, Kathryn Mae (July 13, 2015). "Aboitiz Power subsidiary Hedcor, Inc. to develop 5 hydroelectric power plants". Business World Online.
- ↑ "HYDRO POWER IN A SNAP (PHILIPPINES)". International Finance Corporation.
- ↑ "Large Hydro". Aboitiz Power.
- ↑ PALAÑA, ABERON VOLTAIRE, TMT (April 24, 2016). "SNAP to study Alimit Hydro project". Manila Times.
- ↑ "Company Overview of Aboitiz Renewables, Inc". Bloomberg.
- ↑ Remo, Amy (September 15, 2013). "Aboitiz group opens Cleanergy center". Philippine Daily Inquirer.
- ↑ "Coal". Aboitiz Power.
- ↑ "Coal". Aboitiz Power.
- ↑ "Coal". Aboitiz Power.
- ↑ "Coal". Aboitiz Power.
- ↑ Lectura, Lenie (June 15, 2016). "AboitizPower acquires full ownership of East Asia Utilities". Business Mirror.
- ↑ "Distribution". Aboitiz Power.
- ↑ "Electricity Power". Aboitiz Power.
- ↑ Torres, Ted (May 7, 2006). "Union Bank to acquire iBank for P13.5B". PhilStar Global.
- ↑ Admin, Philstar (May 30, 2005). "GSIS taps Union Bank for eCard scheme". Philstar Global.
- ↑ "GSIS taps Union Bank for eCard scheme". Philstar Globe. May 30, 2005.
- ↑ "Corporate Profile". City Savings.
- ↑ "City Savings". eCompareMo.
- ↑ "Company Overview of City Savings Bank, Inc". Bloomberg.
- ↑ "Company Overview of PETNET Inc". Bloomberg.
- ↑ "About PETNET Inc". PeraHub.
- ↑ Dumlao-Abadilla, Doris (June 2, 2015). "Aboitiz enters money remittance business". Philippine Daily Inquirer.
- ↑ "Our Company". Pilmico.
- ↑ "Company Overview of Pilmico Foods Corporation". Bloomberg.
- ↑ Dumlao-Abadilla, Doris (November 2, 2016). "Aboitiz-led Pilmico buys distribution arm in Vietnam". Philippine Daily Inquirer.
- ↑ [ttp://www.bworldonline.com/content.php?section=Corporate&title=aboitiz&rsquos-pilmico-expands-footprint-in-vietnam&id=135809 "Pilmico Expands Footprint In Vietnam"]. Business World Online.
- ↑ "Announcing the creation of Aboitiz InfraCapital". Aboitiz Eyes.
- ↑ Villamor-Ilano, Marites (May 15, 2017). "Aboitiz Group nearly doubles capex to P76.7B this year". SunStar Philippines.
- ↑ "Company Overview of Republic Cement & Building Materials, Inc". Bloomberg.
- ↑ "Republic provides consistent, high quality construction materials for the builder's ease, efficiency and flexibility". Republic Cement.
- ↑ "Aboitiz Equity Ventures". Aboitiz.
- ↑ "Company Overview of Apo Agua Infrastructura Inc". Bloomberg.
- ↑ "Company Overview of AboitizLand Inc". Bloomberg.
- ↑ "Seafront Residence". Aboitiz Land.
- ↑ "COMPANY PROFILE". Lima Land Inc.
- ↑ "Company Overview of Lima Land, Inc". Bloomberg.
- ↑ Austria, Jenniffer (February 22, 2014). "Aboitiz takes over Lima Land". Manila Standard.
- ↑ "Our Business". Aboitiz.
- ↑ "About Us". Aboitiz Construction.
- ↑ "Aboitiz Group Sustainability". Aboitiz Construction Group, Inc. (Metaphil).
- ↑ Campos, Othel (August 19, 2014). "Tsuneishi expanding capacity of Cebu shipyard". Manila Standard.
- ↑ Galolo, Jeandie (May 9, 2015). "More ships to be built in Cebu". Sun Star Philippines.
- ↑ "About THI". Tsuneishi Heavy Industries Cebu.
This article "Aboitiz & Company, Inc." is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Aboitiz & Company, Inc.. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
