Concepcion Industrial

Concepcion Industrial Corporation ("CIC") is one of the Philippines' most established and leading providers of airconditioning solutions and refrigerators. It operates principally through its two subsidiaries, Concepcion-Carrier Airconditioning Company ("CCAC") and Concepcion Durables, Inc. ("CDI"). The business was started by Jose Concepcion Sr. in 1962 with the establishment of Concepcion Industries Inc. ("CII") after obtaining the exclusive license to distribute the Carrier Airconditioning brand in the Philippines. Over the last 50 years, CII has grown its business to be the largest most established and experienced provider of airconditioning in the Philippines. It did this by developing leading brands, forming strategic alliances and joint ventures with key partners and investing in facilities and capabilities that continue to build its leadership. It has since then successfully introduced its own brand Condura and introduced the Kelvinator brand, both for airconditioning and domestic refrigerators. In late 2012, CII restructured its business and consolidated its airconditioning and refrigeration businesses into one holding company which gave rise to what we know now as CIC. CIC's leadership has been built through in-depth knowledge of the end-user and the industry as well as a proven track record which enabled us to build a strong reputation and a solid customer base. We have and continue to offer the widest range of products and end to end customized solutions to meet the needs of Filipino consumers and businesses through most recognized brand names. We have established manufacturing facilities that have the capacity to produce 500,000 units of airconditioning equipment and 300,000 refrigerators located at LISP in Laguna. But our operations span beyond manufacturing. With over 50 years of operating history, we have been able to develop the largest nationwide sales, distribution and aftermarket infrastructure for both airconditioning and refrigeration spanning across the numerous islands of Luzon, Visayas, and Mindanao. Our products are available in over 90% of all appliance outlets in the Philippines. Our business is supported by: over 170 accredited installer companies; over 130 accredited service centers; over 2,000 technicians; rapid sales facilitation and service turnaround from over 1,000 merchandisers deployed at the point of sale; and 8 dedicated parts stores. Our logistics network is supported by strategically located regional warehouses supported by over 100 delivery trucks and corresponding delivery personnel. Key to our success are the lasting strategic alliances we have with Carrier, Toshiba and Kelvinator and most recently with Midea as we expand towards the wider spectrum of consumer appliances; and Otis as we focus on harnessing our ability to provide a full range of building and industrial solutions. For the full year 2013, the Company's sales and services amounted to P7.6 billion with a consolidated net income of P841 million (P 511 million net of minority interest). Concepcion Industrial Corporation ("CIC") is one of the Philippines' most established and leading providers of airconditioning solutions and refrigerators. It operates principally through its two subsidiaries, Concepcion-Carrier Airconditioning Company ("CCAC") and Concepcion Durables, Inc. ("CDI").