PROCTER & GAMBLE PLEDGES P1.5 BILLION EXTRA INVESTMENTS IN RP
MANILA, May 9, 2005 (STAR) On the occasion of its 70th year of doing business in the Philippines, manufacturing giant Procter and Gamble (P&G) has pledged to pump more investments into its Laguna plant over the next three years in a bid to make the country a major manufacturing and service hub for the Asian region.
The company’s expansion plan was bared during its 70th anniversary celebration last night at the Grand Ballroom of the Westin Philippine Plaza in Pasay City with President Gloria Macapagal-Arroyo as the guest of honor.
President Arroyo led the other guests at the ceremonial switching-on of a "picture-model" of P&G’s Cabuyao, Laguna plant that symbolizes the company’s pledge of P1.5 billion additional investment in the country.
The additional investment is expected to boost economic gains in the country while simultaneously generating more jobs for the residents of Laguna and its neighboring provinces.
According to Alan Lafley, P&G president and chief executive officer, the additional investment covers the company’s planned expansion projects and the addition of services "in areas like accounting and business information to more P&G operations in other parts of the world" over the next three years.
President Arroyo, together with Department of Trade and Industry Secretary Juan Santos, presented to P&G the Gawad Perlas ng Silangan (Order of the Pearl of the Orient) award in "recognition of its invaluable contribution to the country and its sustained confidence in and commitment to the Filipino worker."
Aside from the additional investment, P&G also said that it would be donating 70 houses to the Gawad Kalinga program in support of the government’s housing projects for the poor.
The houses, which will be built near the company’s plant in Cabuyao, are part of P&G’s commitment to nation-building and the upliftment of the communities it serves.
Reported by: Sol Jose Vanzi
© Copyright, 2005
by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved
PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE