Sardine maker sets expansion, IPO

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Amid the new coronavirus pandemic, sardine maker Mega Global Corp. Is eyeing expansion and acquisition to beef up its capacity and serve growing demand from both the local and export markets

Now led by the children of founder William Tiu Lim, Mega Global has a haul and canning capacity of 300 to 400 tons per year at its integrated facility in Zamboanga.

Michelle Tiu Lim Chan, chief operation officer, said Mega Global is allotting P500 million this year to 2021 to increase fishing and canning capacities by 20 percent with expectations to sustain the double-digit annual growth rates posted the past 10 years.

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Marvin Tiu Lim, chief growth and development officer, said the company is eyeing to set up a manufacturing facility in Luzon to address the needs of the island and get access to raw materials.

He added target for acquisition are consumer products that fit Mega Global’s target market, preferably food, to leverage on the company’s nationwide network.

Chan said Mega Global is gearing up for an initial public offering in two to five years as the company is still in the midst of reorganization.

Production was initially disrupted by the lockdown but is now back to 80 percent of capacity.

Tiu Lim said demand for relief goods and from households boosted sales the past three months by as much as three times.

He said Mega Global is holding off any price increase despite rising raw material costs.
Chan said the company will also ramp up its exports where it has seen increased demand.

Mega Global has been exporting to 30 countries the past 16 years.

Mega is the country’s top sardines brand.

The company has also expanded its line of products to more categories such as Mega Tuna, Mega Prime, and Mega Creations.

It produces 2 million canned goods everyday and employs 4,000 workers nationwide.– Irma Isip

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