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.