Crown Asia to supply pipes to waterworks utilities

0

LISTED Crown Asia Chemicals Corp., maker of premium pipes and polyvinyl chloride (PVC), said on Wednesday that it will supply pipes for the waterworks utilities of some local government units.

Advertisements

In a disclosure to the Philippine Stock Exchange, the company said that its pressure main pipes will be utilized to connect supply lines from municipal water sources to barangays and subdivisions, providing safe and potable water to households.

“We continue to extend our range of PVC pipes to cater to new market segments such as waterworks and potable water suppliers. This is part of our diversification thrust to seize opportunities in the growing water-related infrastructure projects,” Derrick  Villanueva, general manager of the company’s pipes division, said.

At present, Crown Asia’s pressure main pipes are utilized for high-pressure waterworks, irrigation and infrastructure. These have been installed to link service connections to about 14 barangays in Bulacan, Nueva Ecija and Aurora Province.

The company, however, did not disclose the cost of the new projects.

Incorporated in 1989 as Crown Asia Compounders Corp., the listed company is currently engaged in the production of plastic compounds, polyvinyl chloride pellets, plastic pipes and related products for the construction and telecommunication industries.

Earlier this year, Crown Asia announced its intention to tap private water utility firms such as Maynilad and Manila Water for their piping requirements.

The company recently declared a cash dividend of P0.05 per share.

For the first three months of the year, the chemical firm’s net income surged by 87 percent to P32.2 million from P17.2 million in the same period last year, driven by its pipe business.

Share.
loading...
Loading...

Please follow our commenting guidelines.

Comments are closed.