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Tanduay allots P1.8 billion for factory upgrades.
Byline: Cliff Harvey C. Venzon
LIQUOR PRODUCER Tanduay Holdings, Inc. will spend around P1.8 billion in the next two years to upgrade its distillation, bottling, and storage facilities, a ranking official said late last week.
The amount will be sourced from proceeds of a share sale that will hike the listed firm's public float in compliance with the local bourse's rules, Nestor C. Medones, the company's chief finance officer said.
"The company currently has ongoing expansion programs with estimated costs of P1.8 billion for the next two years," Mr. Mendones said in a telephone interview.
He said the company will be spending around P700 million for …
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