LISTED Pryce Corp. plans to invest P6 billion to build three new air separation plants in Davao, Bacolod, and Pangasinan.
Each plant is estimated to cost P2 billion and is targeted for completion within three years, the company said in a disclosure on Monday.
Pryce said the expansion is part of its long-term strategy to become the largest industrial gas company in the Philippines.
“This expansion directly supports PPC’s goal of becoming the largest industrial gas company in the Philippines, a milestone the company aims to achieve within the same three-year timeframe,” the company said.
Pryce started operations at its Mindanao air separation facility in 2024, producing a total daily capacity of 7,200 equivalent standard cylinders (ESCs) of oxygen, 1,500 ESCs of nitrogen, and 200 ESCs of argon.
For the nine months ending September, the company reported consolidated net income of P2.99 billion, up 35.1% year on year, while revenues rose 10.6%.
The company attributed the increase to higher sales of liquefied petroleum gas (LPG) and industrial gases, as well as P1.6 billion in gains on marketable securities and other income.
LPG and industrial gases contributed P15.49 billion, accounting for 91.3% of total revenues. Real estate and memorial park operations added P279 million, pharmaceutical products P45 million, and dividend and other income P310 million. Unrealized gains on marketable securities amounted to P847 million.
Pryce said its quarterly report as of Sept. 30 will be submitted to the Securities and Exchange Commission and the Philippine Stock Exchange by Nov. 14.
Pryce was established as a property holding and real estate development company, with operations in memorial park development and lot sales. Its major subsidiary, Pryce Gases, Inc., imports and distributes LPG and produces industrial gases. Another subsidiary, Pryce Pharmaceutical, Inc., wholesales private-branded multivitamins and certain over-the-counter drugs.
On Monday, Pryce shares rose 1.44% or 18 centavos to close at P12.68 per share. — Sheldeen Joy Talavera
