SteelAsia is a company borne out of a partnership that started in 1965.
Filipino businessmen Benito Yao and Go Kim Pah (founder of Equitable Bank), joined forces to put up a rolling mill called Island Metal. The small rebar facility would eventually bloom into one the world’s largest and most modern rebar manufacturing companies today.
In the late 1980s, under the leadership of successor Benjamin Yao, the company would embark on an expansion and modernization of its manufacturing capability, as a platform for helping the Philippine steel industry to become part of the solution. Up until the mid-1990s, the highly fragmented Philippine steel industry was composed of over 50 small steel bar rolling mills of circa 19th century and early 20th century technology. Obsolete and inefficient, the Philippine steel industry could hardly be a positive factor in contributing to the country’s economic development, burdening the construction and property development sector with its high cost of production, inefficiency and spotty track record of quality and timely delivery. The solution was scale and modernization.
In 1994, a project to establish the Philippines’ first state-of-the-art steel bar rolling mill was underway. Driving the endeavor, the SteelAsia Manufacturing Corporation had envisioned a facility that would truly be a national asset; world class steel products and services would lower the cost of construction, and help spur economic growth. When the mill- a showcase of European technology, commissioned in 1996, it was a statement to the ASEAN steel community, that the Philippines had finally joined the ranks in modern industrialization.
SteelAsia today plays a key role in national development.
Around one out every two steel bars installed in construction are manufactured by SteelAsia. More than 80% of the steel bar requirements for land, air, sea, power and communications infrastructure are supplied by SteelAsia. It is the preferred supplier of the largest contractors and property developers in the Philippines.
It is has vertically integrated both upstream and downstream, having the largest and most modern steel billet making facility and the largest rebar fabrication plant in the country. Already with 6 plants operating across the archipelago, it is adding two more- among the world’s largest and most modern steel bar mills, to meet the needs of today’s unprecedented economic growth.