VITARICH Corp. has opened a 9,000-square-meter (sq.m.) warehouse in Panacan, Davao City to further serve the growing demand in Mindanao, the firm said on Wednesday.
“This warehouse is a necessary investment which we believe will set us up for further growth as we strengthen our presence in Mindanao and serve the growing demand,” Vitarich President and Chief Executive Officer Ricardo Manuel M. Sarmiento said in a disclosure.
The new warehouse is the company’s largest and will be able to store 6,600 metric tons (MT) of raw materials and finished goods. It will sit in its feed mill complex with 6,000 sq.m. allotted for storage and 3,000 sq.m. for loading, unloading, and parking.
The facility expanded Vitarich’s inventory capacity in Mindanao by 47% to 11,900 MT.
“With increased capacity, we can ship main commodities in bulk to manage our risks related to raw materials and ensure that we continue to scale up and support food security at all times,” Mr. Sarmiento said.
By the end of the third quarter, Mindanao accounted for P3.4 billion or 40% of the company’s total revenues.
Meanwhile, its feeds segment showed a compound annual growth rate of 15% from 2016 to 2021.
Over the past years, the company has been upgrading and expanding its facilities including a modernized plant in Bulacan, enhancements to management systems, and other investments in technologies and capabilities that enable end-to-end processes.
Vitarich is a poultry integrator and manufacturer of animal feeds and food products in the Philippines. — Justine Irish D. Tabile
