LISTED consumer lifestyle and enterprise solutions provider Concepcion Industrial Corp. (CIC) is targeting participation in bids for large air-conditioning projects at several airports across the Philippines.
“We’re looking at a couple of airports all over. Hopefully, Bacolod, Iloilo, Bohol, and Cagayan de Oro,” CIC Chairman and President Raul Joseph A. Concepcion said in a media briefing last week.
Mr. Concepcion said airports typically conduct bidding processes for the redevelopment and maintenance of their air-conditioning systems.
“Today, the way they do it is they go out, they bid, and they canvas. It’s still a bidding process for them,” he said.
Aside from CIC, Mr. Concepcion noted there are only one or two other industry players capable of handling large air-conditioning projects such as those for airports.
CIC Chief Executive Officer Isaias Ariel P. Fermin said the company offers better value compared to competitors since its product portfolio also includes elevators and escalators.
“Another advantage is that we have elevators in our portfolio. We definitely package a bundle so that there’s value for money,” he said.
CIC subsidiary Concepcion-Carrier Air Conditioning Co. previously installed four new 1,050-TR water-cooled variable frequency drive centrifugal chillers at Ninoy Aquino International Airport (NAIA) Terminal 1, replacing the 20-year-old chillers of the airport’s centralized air-conditioning system.
The move forms part of CIC’s plan to reduce dependence on seasonal demand and sustain market growth by expanding its business-to-business segment.
CIC supplies and manufactures air conditioners, air-conditioning systems, refrigerators, freezers, elevators, escalators, and home appliances. Its brand portfolio includes Carrier, Otis, Condura, Midea, Kelvinator, SharkNinja, and Toshiba.
Shares of CIC last traded on June 5, down 2.77%, or 42 centavos, at P14.72 per share. — Revin Mikhael D. Ochave
