Alliance Select Foods Beefing Up Ops in General Santos

Alliance Select Foods International, Inc. is reallocating portions of recent fundraising exercise proceeds to beef up operations in General Santos City. The company secured approval from the board to use $2 million of the money made from the P1-billion stock rights offer in 2015. Originally, the money was earmarked for an Indonesia-based fishing company called PT Van De Zee.

The extra $2-million investment increases the share of the facility in General Santos City. After three years of losses, the company is starting to reap a cleanup program’s benefits. The firm benefits from “efforts to secure lower cost raw materials, implement cost-cutting initiatives across all areas of operations, and better customer relationship,” which reduces both administrative and general expenses by 3%.

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