D&L to ramp up R&D spending following successful ₱5-B bond offering

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Metro Manila (CNN Philippines, September 26) — D&L Industries, a listed food and chemical products manufacturer, is boosting its research and development efforts after securing funds for the expansion of its Batangas production facility.

The company said the fresh funds raised from its recent maiden bond offering worth ₱5 billion will be used to develop specialized products — not just for Filipino consumers as it also targets new international markets.

READ: D&L's ₱5-B bond offering riding high after strong traction among investors

When the pandemic hit the Philippines in 2020, D&L said it immediately realigned its resources to produce essential food and chemical products that were in high demand in the market.

"With our new facility coming online, they can expect more innovative business solutions and product offerings from us," D&L president and chief executive officer Alvin Lao was quoted as saying in a statement Saturday.

Earlier, D&L said its ₱8-billion Batangas facility will be up and running by the second quarter of 2022.

Its subsidiary Natura Aeropack Corp., which will manufacture coconut oleochemicals for various consumer care products, will be the first plant to operate in the said production facility.