LISTED D&L Industries, Inc. said it is ramping up its investments on research and development (R&D) to launch more products following its successful maiden bond offering, which will fund the expansion of its facility in Batangas.
“With our new facility coming online, they can expect more innovative businesses solutions and product offerings from us,” D&L President and Chief Executive Officer Alvin D. Lao said in an e-mailed statement over the weekend.
The company said it has one of the “most extensive R&D investments in the country.” D&L said its customers view it as an R&D extension of their respective businesses.
D&L completed its maiden P5-billion bond offering this month, which saw total bids exceed its base of P3 billion by 4.6 times.
Proceeds from the bond issuance will be used for the expansion of its Batangas expansion. The facility is expected to partially start operations by May next year. The facility is “envisioned to be a world-class manufacturing plant which boasts of its cutting-edge R&D and innovation capabilities.”
“At the peak of the lockdown in 2020, the company was able to realign its resources to manufacture essential food and chemical products that were badly needed during those times,” the company said.
D&L developed surface disinfectant in aerosol format Solbac Surface Disinfectant via its Aero-pack Industries, Inc. unit in less than three months.
Meanwhile, its subsidiary Chemrez Technologies, Inc. manufactured and exported food and health supplement Laurin CocoMCT oil.
The company also developed Biorez and Biomate, proprietary lines of plastic materials and additives of plastic materials which help plastics become compostable and biodegradable.
“While times have changed especially with the pandemic, our company remains rooted in its core mission of dedicating itself to better lives with R&D and innovation as its main tool,” Mr. Lao said.
Shares of D&L at the stock market closed unchanged for the third consecutive day on Friday at P7.80 apiece. — Keren Concepcion G. Valmonte