SteelAsia
 | |
| Formerly | Island Metal Manufacturing Corporation |
|---|---|
| Company type | Private |
| Industry | Steel |
| Founded | 1965 in Meycauayan, Philippines |
| Founders | Benito Yao Go Kim Pah |
| Headquarters | , |
Number of locations | 6 steel mills (2023) |
Key people | Benjamin Yao, Chairman, President and CEO |
| Products | Reinforcing steel bar |
Production output | 3 million tons per year[1] (2020) |
| Owners |
|
| Website | www |
SteelAsia Manufacturing Corp. (SAMC), also known as SteelAsia, is a Philippine steel company based in Taguig, Metro Manila which is mainly a reinforcing steel bar producer.[3]
History
[edit]SteelAsia was established in 1965 by Benito Yao and Go Kim Pah, the latter being the founder of Equitable Banking Corporation.[4] The company was founded as the Island Metal Manufacturing Corporation setting its first steel mill in Quezon City with the capacity of 30,000 tons per year.[5]
In the 1980s, Benjamin Yao took over SteelAsia's operations.[4] It would establish its second mill named Peninsula Steel in 1989 in Meycauyan, Bulacan.[5] SteelAsia would establish a new steel bar mill in Bulacan in 1996 which introduced modern rolling mill technologies to the Philippine steel industry.[6][7]
From the mid-2000s to the early 2010s, SteelAsia expanded its reinforcing bar production capacity; from producing 279,000 tons of rebar in 2006 to 1.2 million tons in 2013, securing almost half of the rebar market share in the Philippines.[8] In 2014, it began operations of two steel mills in Mindanao, to serve the Mindanao region.[9]
The company has also lobbied against the proliferation of induction furnace produced steel which it views as substandard and a detriment to the domestic steel industry.[10] SteelAsia also started work on the Lemery Works which would be the first steel beam manufacturing facility in the Philippines upon its completion in 2023.[11]
SteelAsia Manufacturing Corporation's Compostela, Cebu plant, CEO Ben Yao & Rafael Hidalgo exported P1.8 billion (35,000 metric tons) worth of green steel, high-strength rebar to a Canadian subway system in Vancouver. Acciona designed the 3-kilometer section of the Ontario Line subway. "We also supplied the bar for the Cebu–Cordova Link Expressway and the contractor was Acciona," Benjamin Yao said. Further, it obtained an P8.3-billion loan for its P18-billion steel mill in Lemery, Batangas.[12][13]
Steel mills
[edit]SteelAsia operates six steel mills as of 2023.
- Under-construction
- Former
- Island Metal – Quezon City
- Peninsula Steel – Meycauayan, Bulacan
References
[edit]- ^ "Steel Asia secures P5.7B loan from DBP". Malaya Business Insight. October 12, 2020. Retrieved March 14, 2021.
- ^ "Report of Findings on the Anti-dumping Protest Against the Importation of Steel Billets from Russia". tariffcommission.gov.ph. Tariff Commission.
- ^ "Head office". SteelAsia. December 8, 2001.
- ^ a b Tomacruz, Sofia (March 20, 2017). "SteelAsia offers to revive defunct National Steel". Rappler. Retrieved March 14, 2021.
- ^ a b Developments in Steelmaking Capacity of Non-OECD Economies 2010. OECD Publishing. March 28, 2011. p. 381. ISBN 978-9264110922.
- ^ Fortuno-Mioten, Erika (October 25, 2019). "Embarking on the endeavor of a lifetime". BusinessWorld. Retrieved March 14, 2021.
- ^ "SteelAsia, Yao vie for top global awards". Manila Standard. April 4, 2017. Retrieved March 14, 2021.
- ^ "SteelAsia". Securing The Future of Philippine Industries. Department of Trade and Industry.
- ^ The Report: Philippines 2016. Oxford Business Group. April 8, 2016. p. 128. ISBN 978-1910068557. Retrieved March 14, 2021.
- ^ "SteelAsia CEO asks govt to ban induction furnace". Manila Standard. December 10, 2019. Retrieved March 14, 2021.
- ^ Campos, Othel (March 14, 2021). "SteelAsia to open 1st PH steel beam plant by 2025". Manila Standard. Retrieved March 14, 2021.
- ^ Campos, Othel (May 24, 2024). "SteelAsia exports P1.80-b steel bars for Canadian railway". Manila Standard. Retrieved May 25, 2024.
- ^ Miguel, Janine Alexis (May 25, 2024). "SteelAsia: Rebar exports to Canada rising". The Manila Times. Retrieved May 25, 2024.