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Trust International Paper Corporation

From Wikipedia, the free encyclopedia
Trust International Paper Corporation
IndustryPulp and paper
Founded1978; 46 years ago (1978) in Mabalacat, Philippines
FoundersElon Ting
Sylvia S. Y. Chen
Headquarters,
Area served
Worldwide
ProductsNewsprint, recycled paper
Websitewww.tipco.com.ph

Trust International Paper Corporation (TIPCO) is a Philippine pulp and paper company which is known for manufacturing newsprint, newsprint, printing and writing-grade paper from recycled materials.[1]

History

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Trust International Paper Corporation was established in 1978 in Mabalacat, Pampanga by Elon Ting and Sylvia S. Y. Chen.[1]

In the early 2000s, its overseas markets included Singapore, Taiwan, Hong Kong, mainland China, Thailand, Malaysia, India and Hawaii in the United States.[2][3]

American-born Filipino Mayleen Ting, the daughter of the founders, took over TIPCO's management in 2008.[4]

TIPCO in 2014 sought government intervention in newsprint imports through safeguard measures that would impose higher duties on imported newsprint arguing the level of importation is hurting the domestic industry.[5] The national government granted the safeguard measure but to a lesser extent than TIPCO proposed which led to the company deferring its investment plans.[6]

In 2014, TIPCO reportedly was the largest paper company in the Philippines, having an annual production capacity of 230,000 MT for paper-based products including newsprint and writing paper.[7]

In 2020, due to lessened global demand due caused by the COVID-19 pandemic, TIPCO suspended all of its production with plans to resume operation on late 2021. [8]

References

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  1. ^ a b "Hong Kong jeweler, newsprint heiress, Spanish principal granted Phl citizenship". Senate of the Philippines. 1 October 2018. Retrieved 19 February 2021.
  2. ^ "TIPCO, Taiwan firm tie up for co-generation project". The Philippine Star. 18 April 2020. Retrieved 19 February 2021.
  3. ^ Go, Marianne (27 September 2002). "Government OKs Tipco cogeneration power plant". The Philippine Star. Retrieved 19 February 2021.
  4. ^ "House Bill: 7197: An Act of Granting Philippine Citizenship to Mayleen Ting" (PDF). House of Representatives of the Philippines. August 16, 2017. Retrieved 19 February 2021.
  5. ^ Desiderio, Louella (10 March 2014). "DTI to issue ruling on newsprint, galvanized iron importation". The Philippine Star. Retrieved 19 February 2021.
  6. ^ Remo, Amy (10 November 2016). "Tipco scales down investment plans". Philippine Daily Inquirer. Retrieved 19 February 2021.
  7. ^ The Philippines In The Paper Global Value Chain (PDF). Duke University Center on Globalization, Governance and Competitiveness. May 2016. p. 33. Retrieved 19 February 2021.
  8. ^ Charm, Neil (17 February 2021). "Philippines' sole newsprint manufacturer halts operations". BusinessWorld. Retrieved 19 February 2021.