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Tuesday, August 26, 2008

San Miguel Corporation

San Miguel Corporation (PSE: SMC and SMCB) is the largest publicly listed food, beverage and packaging company in the Philippines. As of 2001, its business generated 3.6 percent of the Philippines' gross domestic product and 4.5 percent of the government's tax revenue.

Founded in 1890 as a brewery, San Miguel now makes nine out of every 10 bottles of beer, 87 percent of the soft drinks, 60 percent of the processed meat and 40 percent of the poultry sold in the Philippines. The trade-name San Miguel, originates from the local brewery of San Miguel, Barcelona, Spain.

The company has over 100 facilities in the Philippines, Southeast Asia, China, and Australia. Its major operating facilities include five breweries, four glass plants, two metal closure and lithography plants, two plastic case plants, and a coconut oil mill. San Miguel is one of the Philippines' biggest private employers, with over 25,900 employees.

The company reported a net income of $171 million in 2005. As of the first half of 2006, the company's net income had grown 15 percent from a year earlier to P4.36 billion ($83.4 million) following the consolidation of its Australian subsidiary, National Foods Ltd.


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