Uratex to celebrate 50th anniversary in 2018
Natividad Y. Cheng, the co-founder, chairman and CEO of (Uratex), received the Entrepreneur of the Year award at the Shangri-La Hotel, Makati last Oct. 18.
According to the Cheng, the award came as a surprise to her as she attended the event as a nominee with 19 others.
“Hindi ko inexpect (itong award) kasi mga bata (ang ibang nominated, at) mas magaganda ng mga ideas nila, pang-modern.Nagulat na lang ako noongt inawaga ng pangalan ko (I did not expect to win the award because the other nominees were younger and had more modern ideas),” Cheng admitted.
The Uratex founder will travel to Monte Carlo, Monaco in June 2018 to represent the country at the 2018 World Entrepreneur of the Year Awards.
Along with her late husband, Robert, Cheng established Polyfoam Chemical Corporation in 1968 and started the Uratex Group of Companies. They started out with basic machinery imported from Taiwan. Over the years, they used their profit to avail of state of the art machines, equipment and chemicals to improve their production system.
The 71-year-old CEO took over the business in 2003 after her husband passed away. She further strengthened their company’s position as the leading provider of industrial foams, mattresses and other home products in the Philippines for almost 50 years.
50 years and counting
In commemoration of their 50th year, Cheng said Uratexwill provide 50 hospitals or old people’s homes with 50 mattresses; much like what their company did to celebrate their 40th year.
Cheng added that after almost 50 years in the business, receiving the award from Ernst & Young was a very memorable experience for her and regardless of receiving an award — Uratex will continue producing innovative products.
For 2019, the company will start using a high-tech foam machine from Germany that will manufacture quality and efficient products.
“Ang prino produce namin [ay]iba’t ibang klaseng foam. Merong foam na pang automotive; meronpara sa furniture. Iisa lang yung makinang ganon (We produce different kinds of foam. There’s foam used for automotives, there’s foam used for furniture. That machine is one of a kind. What we are using right now is the second best in Asia and we are the first in Southeast Asia to use it,” Cheng said.
Their operations are based in Valenzuela, Bulacan, Alabang, Cebu and Davao.
As of today, the Uratex Group of Companies owns over 1,000 retail establishments nationwide; considered as the country’s 887th largest corporation by revenue according to BusinessWorld’s Top 1000 Corporations in the Philippines 2016.