“As mentioned during our third-quarter briefing, while the plant is substantially complete, some steps in the final stages are currently taking longer than expected,” D&L President and Chief Executive Officer Alvin D. Lao said in a disclosure.
Mr. Lao said the delay will not have any material impact on the company’s current operations as its current capacity is still enough to cover its requirements in the near term. Once completed, the plant is seen to help the company develop more high value-added coconut-based products and penetrate new international markets.
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