Pilmico secures P500-M loan for expansion

Pilmico Foods Corporation (PFC) recently signed a P500 million, 5-year loan with Security Bank Corporation (SBC). Proceeds from the loan will support the company’s feedmill expansion in Iligan.

At the signing were (from left) Gabriel T. Manalac, Aboitiz Equity Ventures Treasurer; Jose Antonio Aboitiz, PFC Chief Financial Officer; Antonio Moraza, PFC President/Chief Executive Officer; Alberto Villarosa, SBC President; Patricia Siy, SBC Senior Vice President; and Joyce So, SBC Assistant Vice President.

A new feedmill, which is expected to be operational by the first quarter of 2008, will enable PFC to produce complex animal feeds from a variety of raw materials. The company currently makes simple swine base feeds as a by-product of its core flour milling operations. The feedmill expansion is expected to strengthen PFC's presence in the complex feeds market, currently being served through its subsidiary Fil-Am Foods.