Mega Global forms new sales, R&D unit

MANILA, Philippines — Sardine manufacturer Mega Global Corp. has set up a new subsidiary that will serve as its sales and distribution arm.

In a media briefing yesterday, Mega Global chief operating officer Michelle Tiu Lim-Chan announced the establishment of Mega Prime Foods Inc. (MPFI), which would serve as an incubator of its new products.

Chan said MPFI would also house the group’s  research and development hub.

MPFI is set to expand Mega’s current portfolio of food products that have become a staple in many Filipino homes.

“As the largest of Mega’s subsidiaries, it plays a key role in ensuring that the group’s commitment to nation-building is met. Its expanded line-up of products embodies its belief that nutritious food should be easily accessible to all Filipinos, as captured in its tagline of improving every day, one meal at a time,” the company said.

To support this goal, MPFI is ramping up domestic food production with a vision to support the community’s growing needs.  It is set to open a manufacturing facility in Sto. Tomas, Batangas.

The facility, which broke ground in 2020, is set to be formally launched in January 2023.

Mega said the opening of the new plant helps create employment and livelihood opportunities that can help Filipino families recover from the ill effects of the pandemic, thereby spurring economic recovery.

The manufacturing plant will be opened to field trips to show that MPFI is committed to support nutrition with proper education and boost tourism.

“Food security is essential to the well-being of Filipinos and is critical to the country’s socio-economic development. We recognize that we have a key role to play in ensuring food security and in nation-building. Through our innovations and investments in our people and processes, we are confident that MPFI can help the Philippines achieve food security while at the same time bringing sarap, saya, and sustansya (delicious, fun and nutritious) to millions of Filipino families,” said Chan who also serves as COO of MPFI.

Mega said the creation of MPFI would allow the company to set the sales and distribution unit arm apart from the fishing fleet and canning operations side and to professionalize its corporate structure in preparation for the future growth of the company.

Mega Fishing Corp., another subsidiary of Mega Global handles the company’s Zamboanga fishing, can-making and manufacturing operations.

Meanwhile, asked about the company’s plans to do an initial public offering (IPO) Mega Global chief growth and development officer Marvin Tiu Lim said they would first have to reach a certain scale before it can be attractive to a lot of people, including international investors.

The company was earlier looking to launch its IPO in 2025 in time for its 50th anniversary.

Asked if this goal still remains, Tiu Lim said that’s something the company is aiming for.

“We can’t say for sure because we don’t know what 2025 will be,” he said.