Metro Manila (CNN Philippines, May 5) — D&L Industries, a listed plastic and food input producer, is spending ₱1.6 billion in capital expenditures this year, the bulk of which will finance the completion of its new facility.
“Mostly still for the completion of the new Batangas plant which will start operations in July. Plus maintenance capex for existing plants,” D&L president and CEO Alvin Lao said Friday.Spending this year is lower than the ₱3.5 billion in 2022.Its Batangas plant is envisioned to boost its export business. The firm earlier said its coconut-based products under food and oleochemicals remained the main drivers in foreign markets given the coconut oil’s natural antiviral, antibacterial, and antifungal properties.In a disclosure, meanwhile, D&L reported lower earnings at ₱594 million in the first quarter, but Lao noted that the company’s income was “getting better” with volumes “coming back in March.”
He explained that amid supply chain issues last year, customers carried excess inventories which they consumed from January to February of 2023.
