THE LOGISTICS ARM of Metro Pacific Investment Corp. (MPIC) acquired on Friday P204.79-million worth of properties in Bulacan as it ramps up its warehouse operations.
In a statement issued Friday, Metropac Movers, Inc. (MMI) said it purchased parcels of land in San Rafael, Bulacan totaling 277,857 square meters (sq.m.).
The property will be transformed into a mega distribution center that will cater to the company’s existing and potential clients in the fast-moving consumer goods, consumer durables, and other industries.
MMI had also acquired in July last year a 202,000-sq.m land in General Trias, Cavite for P1.2 billion. The company plans to construct a large distribution center in this property as well.
The company’s existing facilities are capable of handling the warehousing, distribution, and crossdocking requirements of local and international clients.
Alongside its land banking efforts, MMI purchased back in 2017 522 new trucks and existing leased warehouse spaces covering 207,000 sq.m in various locations across Metro Manila, Luzon, Visayas, and Mindanao.
MMI also invested in a control tower where it can manage its booking, location, and tracking services.
The company’s acquisition spree is part of its efforts to become the leading logistics company in the country in the following years. Aside from its core business of end-to-end logistics, it also offers transport and freight forwarding through its three trucking components namely Premier Logistics, Metropac Trucking Company, Inc., and Trucking Pro.
MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.
Shares in MPIC shed four centavos or 0.8% to close at P4.95 each at the stock exchange on Friday. — Arra B. Francia