ANNUAL STOCKHOLDERS’ MEETING
CADP GROUP CORP. held its annual stockholders’ meeting on December 3, 2008 at the Makati Shangri-La Hotel.
ANNUAL STOCKHOLDERS' MEETING
Roxas Holdings, Inc. held its annual stockholders’ meeting on November 26, 2008 at the Mandarin Oriental Manila.
CONSTRUCTION OF BIOETHANOL PLANT IN NEGROS OCCIDENTAL
Roxol Bioenergy Corporation (RBC), the bioethanol unit of listed sugar conglomerate Roxas Holdings, Incorporated (RHI), has tapped on June 27, 2008 the India-based KBK-Chem Engineering Pvt. Ltd. for the construction of a bioethanol plant amounting to about P1 billion in Negros Occidental.
Shown in the contract signing are (Seated, from L-R): Ms. Asuncion Aguilar, RHI Senior Vice President for Finance and Treasurer, Messrs. Francisco del Rosario, Jr., RHI President and Chief Operating Officer, Pedro Roxas, RHI Chairman and Chief Executive Officer, Sanjay Desai, KBK-Chem Managing Director, Shekhar Tawde, KBK-Chem President, Miguel Gaspar, CADP Group Corporation Vice Chairman and Ernesto Tumimbang, Jr., Juntee Trading General Manager. Not in photo: President and Chief Executive Officer of CADP Group Corporation (CADPGC), RHI’s sugar unit, Mr. Ramon Picornell, Jr.
(Standing, from L-R): CADPGC’s Messrs. Joven Estacio, Legal Assistant, Ethanol Project Team members Mr. Noel Concepcion and Ms. Susan Urbanozo, Messrs. Melchor Layson, Vice President for Strategic Projects, Santiago Ureta, Ethanol Project Head Consultant, Ruben Jacildo, Ethanol Project Team member, Jeffrey Mijares, Chair, Ethanol Project Team and Florencio Mamauag, Jr., Vice President for Legal.
ADDITIONAL P2-BILLION LOAN
Roxas Holdings, Inc. (RHI) obtained on February 14, 2008 another P2 billion-loan facility from Bank of the Philippine Islands (BPI) and Rizal Commercial Banking Corporation (RCBC)
to complete the P5.8-billion capital it needs to bankroll its capacity expansion and entry into the ethanol sector.
RHI was given a loan facility of P1 billion by BPI, P500 million by RCBC and another P500 million by BPI Asset Management and Trust Group. RHI secured the loan facilities together with its sugar units Central Azucarera Don Pedro, Inc. (CADPI) in Batangas and Central Azucarera dela Carlota, Inc. (CACI) in Negros Occidental.
A week earlier, RHI and its sugar units secured a P4.7 billion-loan facility from Banco De Oro Universal Bank.
Present during the contract signing are (From L-R): Messrs. Ramon Picornell, CADP Group Corporation President and Chief Operating Officer, BPI President Aurelio Montinola III, RHI Chairman and Chief Executive Officer Pedro Roxas and Lorenzo Tan, RCBC President and Chief Executive Officer. Flanking them are RHI Senior Vice President for Finance and Treasurer Asuncion Aguilar (3rd from left) and RHI President and Chief Operating Officer Francisco del Rosario, Jr. (7th from left) and BPI and RCBC officers.
EXPANSION LOAN AGREEMENT
Listed sugar conglomerate Roxas Holdings, Inc. (RHI) signed a loan agreement worth P4.69 billion with Banco De Oro Universal Bank on February 8, 2008 to bankroll its expansion program.
RHI will expand its sugar milling and refining subsidiaries to increase its revenue-generating capability and enhance its cost-competitiveness to place RHI in a competitive advantage against low-priced imported sugar that will enter the country beginning 2010 under the ASEAN Free Trade Agreement.
RHI will also use the loan to fund the building of an ethanol-fuel plant to take advantage of the definite market following the enactment of the Biofuels Act, which mandates the use of locally sourced biofuels.
Photo shows RHI and BDO-EPCI, Inc. officials during the signing ceremony (From L-R): Walter Wassmer, BDO-EPCI Senior Vice President for Institutional Banking Group, Francisco del Rosario, Jr., RHI President and Chief Operating Officer, Pedro Roxas, RHI Chairman and Chief Executive Officer, Teresita Sy-Coson, BDO-EPCI Chairman, Nestor Tan, BDO-EPCI President, Ramon Picornell, Jr., CADP Group Corp. (CADPGC) President and Chief Executive Officer and Asuncion Aguilar, CADPGC Senior Vice President for Finance and Treasurer.
ANNUAL STOCKHOLDERS MEETING
CADP Group Corporation held its Annual Stockholders’ Meeting held last November 21, 2007 at the New World Renaissance Hotel, Makati City. Photo shows (From L-R): Messrs. Carlos Lizalde, Director, Geronimo Estacio, Director, Francisco del Rosario, Jr., Director, Pedro Roxas, Executive Chairman, Florencio Mamauag, Jr., Vice President for Legal Affairs, Miguel Gaspar, Vice Chairman, Ramon Picornell, Jr., President and Chief Executive Officer and Ramon Dimacali, Director.