Axelum Resources Corp., the country’s largest fully-integrated manufacturer and exporter of premium coconut products, earmarked P350 million in 2021 capital expenditures to ramp up production and sustain growth.
Axelum said in a disclosure to the stock exchange the programmed capital spending would be used to fund equipment modernization, capacity upgrades, plant improvements and new product research and development activities.
The company is also seeking to extend its market reach both domestically and overseas by appointing reputable distribution partners in identified key growth areas and continues to look for strategic and value-accretive targets for either an acquisition or joint-venture.
“We are entering 2021 with a renewed sense of courage and optimism anchored on our collective efforts and various learnings from last year, which strengthened our character and resolve,” Axelum president and chief operating officer Henry Raperoga said.