Concepcion Industrial to undertake transformation

The Concepcion family's Concepcion Industrial Corp. (CIC), a provider of consumer lifestyle and enterprise solutions, is looking to follow in the footsteps of some of the country's biggest conglomerates as it embarks on a transformation initiative aimed at scaling up its business.

- By RICHMOND MERCURIO

"For us to expand our business, I think very much like San Miguel, which moved from a beverage company, today, it is an infra company. You look at Aboitiz and even Ayala. They have transformed this company from its traditional base and basically expanded. And that's what we're trying to do also in terms of our direction," CIC chairman and president Raul Joseph Concepcion said.

CIC chief executive officer Ariel Fermin said the future for the listed company is going beyond air conditioners, refrigerators and washing machines.