LISTED food and plastics manufacturer D&L Industries said on Thursday it was planning to increase its capital expenditure (capex) by 15 percent to 20 percent every year to fund the upgrading of equipment. D&L President and Chief Executive Officer Alvin Lao said that this year, the company would set aside P370 million to P380 million for capex, higher by 16 percent compared with the P315 million capital spending set last year. Lao also said the company was targeting to boost its exports in line with its vision to expand its business in the next three years. “But if we don’t expand in the next three years, it is possible we won’t have enough room for further growth. D&L’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use.

Source: Manila Times July 13, 2017 17:26 UTC