URC to produce more good quality sugar after Roxas mill takeover
Universal Robina Corp., the listed snack foods company of the Gokongwei Group, said its move to acquire the refinery assets of Roxas Holdings Inc. (RHI) will enhance its capability to produce good quality refined sugar.
It was just last week when URC announced its plan to buy the milling and refining assets of RHI as well as the Batangas land assets of the latter’s subsidiary, Central Azucarera Don Pedro Inc. (CADPI).
“The acquisition by URC of the milling and refining assets of CADPI will create synergies in the sugar industry in Batangas that will benefit all stakeholders. This transaction is expected to enhance the capability of URC to produce good quality refined sugar,” URC said in a statement, which was cited in Philippine Star.
Post-acquisition, URC will now own all buildings, improvements, machineries and equipment, spare parts and transportation equipment within the RHI facility at Brgy. Lumbangan, Nasugbu, Batangas.