Business In The Philippines

Home-grown firm Lamoiyan Corp., maker of Hapee toothpaste, is investing an additional P100 million to P150 million in the next two years to further increases its capacity as the company gears up for the exports market. Continue below.

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Lamoiyan President and Chief Executive Officer Cecilio Kwok Pedro, who paid a courtesy call to Trade and Industry Secretary Peter B. Favila, told reporters that the P100 million investments earmarked last year for capacity expansion would be completed this year.

"We are just starting our inroads in the Southeast Asian market. We are preparing to go and compete with the giants," Pedro said. The company has initially exported to Vietnam.

The company has already raised capacity to 10,000 metric tons from 6,000 metric tons with the P100-million investments. The additional P150-million investment for the period 2006-2007 will further increase capacity.

The additional investments would improve the company's market share in the local tooth-paste market to 20 percent from the present 10 to 15 percent market share.

But Lamoiyan would be offering new export product next year to be able to match with the multinational corporations.

During his meeting with Favila, Pedro said they discussed about how to promote locally-made products through the "Buy Pinoy" movement.

Pedro noted that local toothpaste companies have to face the hurdles put up by the giants even on issue of space in supermarkets saying the shelves to display their products, which entails a lot of cost, are being monopolized by the multinational corporations.

Of the P10-billion local toothpaste market, 50 percent is accounted for by Colgate but it is produced in Thailand and Close-up, a poor second, and is produced in Indonesia.

Earlier, Pedro said the company is planning to go public by listing in the stock market but that will depend on the market condition.

Aside form toothpaste, Lamoiyan is also producing Lacteena feminine hygiene; Fash liquid laundry detergent; Tenderly fabric enhancer and; Dazz dishwashing pastes and liquids.

November 28, 2005, Bernie Cahiles-Magkilat, Manila Bulletin