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PIA Press Release

PGMA commends SMC on business expansion despite global crisis

Manila (19 February) -- President Gloria Macapagal-Arroyo commended San Miguel Corporation (SMC), the country's largest publicly listed food, beverage and packaging company, for its ongoing expansion that is expected to create at least half a million jobs amid the global financial downturn.

"We visited here dahil gusto naming impagmalaki na marami pa ring industriya na hindi retrenchment ang pinaguusapan kundi expansion," the President said during her brief visit to the SMC main offices in Pasig City.

Accompanied by Trade and Industry Secretary Peter Favila and Labor Secretary Marianito Roque, the President was welcomed by SMC Chairman Eduardo Cojuangco, President & CEO Ramon Ang and rank and employees including members of the Purefoods basketball team at the lobby of the SMC building.

The President then proceeded to the audio visual room where Ang presented to her the company's expansion plans, including SMC's proposal to put up broadband over power line which aims to bring down the cost of internet connection by 50 percent.

"We are not talking of retrenchment here and in fact, we are into business expansion," Ang informed the President to delight of SMC employees.

Ang presented to the President the Feeding Our Future Program, a joint venture of SMC and the Kuok Group of Companies that will create 500,000 direct and indirect jobs in the one million hectares that will be devoted to food production.

An additional 60,000 direct and indirect employment will be created also under the San Miguel Food Group's P9.93-billion expansion of its poultry, hog production, feeds and ice cream, businesses, among others.

On the SMC's vision-mission program, Ang said they have prepared proposals to bring down the cost of electricity and gasoline and diesel; increase water supply, and, Meralco Broadband over Power Lines (BPL).

"It's a non-stop internet connection technology where you can talk and connect to your relatives abroad for free," Ang said to the delight of the President and SMC officials and rank and files employees present during the presentation.

"These expansions will not happen if not for the good leadership and the Philippines is lucky to have a President like GMA (Gloria Macapagal-Arroyo) who has the knowledge in economy and is very hardworking," Ang added.

The President ended her visit with an interaction with hundreds of SMC employees, including basketball team members of Ginebra, San Miguel Beer of the Philippine Basketball Association (PBA), and another Philippine Basketball League (PBL) ballclub of the company. (PIA-MMIO) [top]

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