COVID delays commercial operations of D&L's Batangas facility to May 2022

In a disclosure to the Philippine Stock Exchange on Thursday, the listed company said the Philippine Economic Zone Authority granted its unit D&L Premium Foods Corp. the start of commercial operations extension to January 2023.

The group said DLPF—which is tasked to produce various food ingredients targeted for export business—was supposed to be up and running in October of this year. This has now been pushed back due to the protracted public health crisis, exacerbated more recently by the entry of the highly contagious Delta variant, which delayed the arrival of the plant's equipment and machinery.

Another subsidiary Natura Aeropack Corp., which will manufacture coconut oleochemicals for various consumer care products, will be the first plant to operate in the production facility in Batangas."While the COVID-19 pandemic and various mobility restrictions have caused challenges in the completion of our Batangas plant, we remain committed to this project," D&L president and CEO Alvin Lao said in the disclosure.

"We see ever-growing opportunities in relevant industries in the new normal that we can tap into with this new plant," he added.Its net income in January to March period rose to ₱695 million from ₱515 million posted in the same period last year. The company's sales also increased by 23% to ₱7 billion from last year's ₱5.67 billion.

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