Pipes and plastic compounds maker Crown Asia Chemicals Corp. (Crown) has bagged major supply deals from two property giants of the country.
In a statement, the company said it won pipes supply deals of some of the projects of Ayala Land Inc. (ALI) and Vista Land and Lifescapes Inc.
Crown said it already began supplying polyvinyl chloride (PVC) pipes to two of ALI’s mixed-use commercial malls and office developments, such as Sunrise Paradigm in Pasig City and the Bonifacio Stopover in Taguig City.
The firm said it also started supplying for Starmalls developments of Vista Land of real estate magnate Manuel Villar in Bataan, Bulacan, Las Piñas, and Laguna.
Aside from the supply deals with the two property giants, Crown said it is also supplying pipes in the construction of the UST Hospital and other Ace Medical Hospital facilities in Quezon City, Valenzuela City, and Pateros town in Rizal province.
Other supply contracts to hospital developments include Medical City in Iloilo, and two Unihealth Hospitals in Parañaque City and in Biñan, Laguna.
Crown is in the midst of expanding its market to include commercial developments like malls, healthcare, and leisure projects.
Crown is also supplying pipes for Las Casas Filipinas de Acuzar, an open-air museum and heritage park located in Bagac, Bataan and developed by New San Jose Builders. The Las Casas Park is considered a tourism destination featuring ancestral houses and pieces from all over the Philippines.
“We are proud to be part of a cultural project as ambitious as the Las Casas Filipinas de Acuzar,” said Derrick P. Villanueva, general manager of Crown’s pipe division, in a statement. “It shows that aside from being a preferred brand because of our proven product quality, Crown Pipes is also establishing its versatility in wider applications. We will continue to update our other project inroads,”
Villanueva said he is confident that with the continuous expansion to other project developments, Crown is poised for more growth in 2016.
Crown’s existing pipes supply contracts include: a 25-megawatt solar power plant of Citicore Power Inc. in Barangay Rizal, Silay City, Negros Occidental; and a solar power plant of Miescor, a unit of Manila Electric Company.
In the first nine months of the year, the firm nearly doubled its net income to P70.49 million from P44 million a year ago, as revenues went up to P799.23 million from P622.37 million the same nine months last year.
The company has set aside P175 million in capital expenditures (capex) for 2015, which is higher than its P63.4 million spending last year.
Crown’s capex was funded mostly from its P222-million initial public offering (IPO), having P203.98-million net proceeds after listing related expenses and taxes.
Crown is a plastics compound and pipes producer owned by the Villanueva and Perez families based in Guiguinto, Bulacan. It manufactures and sells plastic chemicals and compounds, as well as synthetic resins for making construction materials such as tubes and pipes. Producing for local and foreign markets, Crown’s clientele includes construction and telecommunication companies, as well as local infrastructure projects.