A Brown creates new agri company

The board of listed A Brown Co. Inc. has approved the creation of an agricultural firm that will be engaged in the milling and selling of palm oil.

In its disclosure, the company said it will own 100 percent of Surigao Greens Agri Corp., a company in the process of incorporation.

A Brown will be subscribing to 12.5 million common shares representing 100 percent of the company’s outstanding capital stock upon incorporation.

The primary purpose of the company is “to engage in the business of processing, milling and refining palm oil to manufacture crude palm oil, refined beached deodorized palm oil, palm olein and other products and to distribute such products on a wholesale or retail basis, provided that the corporation shall not solicit accept or take investments/placements from the public and neither shall it issue investment contracts.”

The company is also in the process of building the country’s first commercial electron beam (e-beam) irradiation facility, which is expected to be completed by September this year.

The said project, located in a 1.17 hectare of land in Tanay in Rizal, will be carried out by its unit Irradiation Solutions Inc.

The facility will utilize a new process that enables the treatment of goods using electron beam technology, the first of its kind in the country.

The Philippine Nuclear Research Institute, which has been championing the creation of a private irradiation facility since 2017, welcomed the

Tanay facility.

Paul B. Juat, CEO of ISI, the project seeks to promote additional economic activity both locally and nationally.

“We are anticipating the creation of more jobs and other opportunities as a result of this new facility, which is expected to create an impact to the local economy of Rizal. And with irradiation technology recognized globally as a proven and safe technology, we can better support the growth of various industries and help develop multiple downstream industries as well,” Juat said.