First Balfour Celebrates 50 Years

First Philippine Holdings Corp. (FPH) officials, led by chairman and CEO Federico Lopez (third from lef t), raise their champagne glasses to celebrate the 50th anniversary of subsidiary First Balfour, one of the country’s leading engineering and construction companies. Also in photo are (from left) Francis Giles Puno, FPH president and COO; Anthony Fernandez, First Balfour president and COO; and Dr. Fiorello Estuar, First Balfour senior adviser.

Lopez-led First Balfour, one of the country’s leading engineering and construction companies, celebrated its 50th anniversary on 28 November by hosting a dinner and special ceremony. The event gathered those who played instrumental roles in the company’s growth over the years, including valued clients, key business partners, top suppliers and government officials.

A subsidiary of First Philippine Holdings (FPH), First Balfour originally began in 1969 as a spinoff of Manila Electric Company’s former power plant and design unit, called the Philippine Engineering & Construction Corp. (PECCO). In 1976, PECCO changed its name to Engineering & Construction Corp. of Asia (ECCO-Asia) to signal the company’s expansion into the construction of power transmissions, oil refineries and industrial plants. First Balfour, as it is known today, emerged after a series of mergers and more name changes spanning almost a decade.

When First Balfour first started out, it relied mainly on business from other Lopez Group companies. It has since then expanded its business by helping more and more projects being undertaken by companies outside the FPH Group. Today, the bulk of First Balfour’s revenues come from non-FPH clients.