MIC is now IPM Holdings, Inc.

By: Philippine Daily Inquirer

October 27th, 2015

Shareholders of Minerales Industrias Corp. (MIC), a company originally incorporated as a diversified holding company, has approved the change in corporate name to IPM Holdings, Inc.

IPM is a household name for solid waste collection services in Manila.

“The change in name was made to reflect the ownership structure,” said Dwight Ramos, vice president of the IPM Group of Companies during the firm’s special stockholders’ meeting on Oct. 21, 2015.

In 2013, IPM — a major player in the construction industry and operator of the Payatas landfill — entered the stock market via backdoor listing, through MIC.

The IPM group purchased 500 million new shares at P1 per share, taken from MIC’s increased authorized capital to 740 million shares from 240 million shares previously.

Thus, IPM Construction and Development Corp., IPM Environmental Services, Inc. and IPM Realty and Development Corp. infused P350 million, P100 million and P50 million to MIC, respectively.

To date, the Group owns a controlling stake in Basic Environment Systems Technologies, Inc. (BEST), which is engaged in contracting and consulting business for waste management, public cleansing, sanitation and general hygiene to provide a growth stream of revenues and income.

During the shareholders’ meeting on Oct. 21, Ramos said the company is focused on growing its business of solid waste management and establishing additional facilities for the processing and conversation of solid waste into alternative fuel for the cement and power generation facilities.

Furthermore, the company is also tapping specialized waste handling and disposal requirements of various industrial zones across the country to provide integrated waste solutions.

“IPM is known as the solid waste collector for Manila, Quezon City, Pasig, Pasay, Cagayan de Oro and quite recently, we won the bid for Food Terminal Inc. Starting next year, we will service FTI,” Ramos said.

FTI in Taguig is an agroindustrial complex and is one of the largest industrial complexes in Metro Manila. It is currently home to more than 300 companies.

Ramos said the company would continue to expand and seek more private and government contracts.

Moving forward, the company will be eyeing cement factories to supply refuse derived fuel or RDF.

“We are now talking with Aboitiz and Eagle Cement for the use of our RDF,” he said.

RDF or fuel derived from waste can be used by cement factories and power plants to replace coal as their main raw material.

“Cement factories are allowed to replace 40 percent of their coal (requirements) with alternative fuel. At present, they are only replacing 10 percent so they need more. They want us to do more,” Ramos said.

The global practice of cement factories worldwide is the use of 100 percent alternative fuel.

Furthermore, IPM is also in talks with coal-fired power plants to supply RDF instead of coal, he disclosed.

At present, IPM, through BEST, owns and operates the country’s largest RDF facility along with Lafarge Industrial Ecology International, which aims to address serious concerns on solid waste and its disposal in Pasig City.

The RDF facility is capable of processing about 600 tons of trash per day, almost equivalent to the city’s daily trash collection. According to IPM, the facility runs by mechanically segregating waste and selecting garbage with high thermal value.

About 25 to 35 percent of the processed waste becomes alternative fuel while the remaining organic wastes are safely transferred to sanitary landfills.

The company’s net income grew to P61 million in 2014 from P42 million in 2013.

Read more: http://business.inquirer.net/201450/mic-is-now-ipm-holdings-inc#ixzz45IwVbaXp

Listed Minerales Industries seals IPM Group's entry

February 11, 2013 8:16pm

GMA News Online

Listed Minerales Industrias Corporation (MIC) got its shareholders' approval for the entry of the IPM Group, signaling the dormant firm’s conversion into a holding company with particular focus on waste management.

In a disclosure to the Philippine Stock Exchange Monday, MIC said that during meeting last Friday it secured shareholders approval to allow the subscription of the IPM Group, its subsidiaries and affiliates to P500 million worth of shares of the company.

The shares will be taken out of the increase in MIC's authorized capital.

Minerales' shareholders also approved the new management’s plan to invest P470 million out of the P500 million fresh capital, to acquire 75 percent of Best Environmental Systems and Technologies (BEST) for P475 million.

The acquisition of BEST, the country’s largest integrated waste solutions provider, will enable MIC to shift its focus from mining metals to municipal solid waste being collected, processed and recycled into renewable source of energy such as refuse derived fuel.

Owned by businesswoman Isabelita Paredes Mercado, the IPM Group has been a major player in the construction business for over 16 years. It started as a building contractor prior to expanding into environment management, equipment trading, information technology, and real estate development.

IPM, the operator of the Payatas landfill in Quezon City, effectively gained automatic listing on the stock exchange via the acquisition of MIC. Its entry allows it to tap into a wide pool of potential investors to provide itself with capital for future growth or working capital. — SOA/BM, GMA News

IPM completes deal with Minerales

By Daxim L. Lucas |Philippine Daily Inquirer

7:40 am | Wednesday, March 13th, 2013

MANILA, Philippines—A waste management firm has completed the purchase of P500 million worth of shares of Minerales Industrias Corp. (MIC), giving the listed firm fresh funds to pursue its conversion into a holding company that will process solid wastes to produce alternative fuel for manufacturing firms and waste-to-energy projects.

The IPM Group of Companies—which owns and operates the Quezon City Engineered Sanitary Landfill—subscribed to P500 million worth of shares of MIC, taken out of the increase in its capital stock.

The new management of MIC, headed by businesswoman Isabelita Paredes Mercado, is using P450 million of the new capital to acquire 75 percent of Basic Environmental Systems and Technologies (BEST), a unit of IPM.

In a statement, MIC said the acquisition of BEST would allow it to convert its primary business from mining metals to municipal solid waste management, in which trash would be recycled into renewable sources of energy such as “refuse derived fuel.”

In the next few years, MIC intends to focus on growing BEST through the expansion of its municipal solid waste contracting business and establishment of additional facilities to process solid waste into alternative fuel for the cement and power generation industries.

According to the new management, MIC’s investment in BEST is expected to improve shareholder value as the company is a major player in the waste management industry.

The IPM Group began in the early 1980s initially as a construction firm and has since expanded into waste management, real estate development and information technology.

It also owns an engineered sanitary landfill facility in Morong, Rizal, which serves the waste disposal requirements of the province and select private corporations. The Morong facility has since expanded to include a materials recovery and composting facility, which pushed BEST closer to its goal of becoming an integrated waste management solution provider.