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Jul 21, 2018 @ 18:34

Lao family buys more D&L shares

 

Jadel Holdings Co. Inc., has beefed up its stake in D&L Industries Inc, with the purchase of 329,000 shares.

The Lao family’s Jadel bought the shares at P10 apiece for a total of P3.29 million.

Following the transaction, Jadel now owns 4.18 billion D&L shares or about 58.48 percent of the chemical and food ingredient manufacturer.

D&L has four principal business lines namely, food ingredients, colorants and plastics additives; aerosols; and oleochemicals, resins and powder coatings. It also toll manufactures a range of related products, including insect control, industrial maintenance chemicals, and home and personal care products, among others.

The company expects to sustain its double-digit earnings growth momentum this year on the back of improving margins and rising exports.

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