Lopez-led First Philippine Holdings Corp. is beefing up its manufacturing businesses with the infusion of up to P1 billion into First Philec group.
In a disclosure to the Philippine Stock Exchange Friday, FPH said its board approved the investment of P1 billion or its US dollar equivalent into First Philippine Electric Corp. (First Philec) and First Philec Inc. (FPI) in the form of loan, equity or advances.
First Philec serves as an intermediate holding company for all manufacturing investments of its parent company FPH. FPI, which is engaged in manufacturing transformers, is a subsidiary of First Philec.
