URC sets revenue goal of $3B in five years

By Paolo G. Montecillo

Philippine Daily Inquirer

9:48 am | Thursday, April 3rd, 2014

Screengrab from http://www2.urc.com.ph/

SINGAPORE—Jack ‘n Jill snacks maker Universal Robina Corp. (URC) is confident of its prospects in Myanmar, the last highly populated Southeast Asian market that the company has yet to penetrate.

This is part of the company’s ambition to become one of the most recognizable companies in Southeast Asia as the region starts economic integration by 2015.

URC, which manufactures a range of products from Cream-O cookies to C2 green tea drinks, said it started selling goods made in the company’s plants in Thailand to the 60-million strong Burmese market, starting with major cities like Yangon and Mandalay.

The company is also expected to start work on its $30-million factory in Myanmar soon, significantly reducing the cost and increasing its margins for products sold to locals.

“Myanmar is the last highly populated country in the region we haven’t tapped,” URC vice-president for corporate planning and investor relations Mike Liwanag said. Speaking at the sidelines of the Invest Asean forum held here this week.

“Our vision is to become one of the largest pan-Asian snackfoods and beverage companies,” Liwanag said. Last year, the company’s sales in the region reached $1.5 billion. The firm wants to double this to $3 billion in five years.

Liwanag said the company has formed a joint venture with a Burmese firm, the same company currently distributing Jack n’ Jill products in the country, for the construction of its manufacturing facility. URC owns 95 percent of the joint venture.

Across the region, Liwanag said the company would expand its current manufacturing capacity in various facilities by 10 to 30 percent, depending on demand.

Follow Us

Other Stories:

D&L sees lift from food products demand

In 3-city roadshow, SM Investments engages retail investors

Group urges passage of ‘competition law’

PRCI, Sta. Lucia team up for Cebu property project

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , expansion , Myanmar , Philippines , Snacks , Universal Robina Corp. (URC)

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools