AXELUM BARES 2021 GROWTH PROSPECTS
Axelum Resources Corp. (PSE: AXLM), the country’s largest fully-integrated manufacturer and exporter of world-class premium coconut products, is set to resume its growth trajectory this year, according to its disclosure with the Philippine Stock Exchange.
“Last year, we capitalized on downtime at our manufacturing facilities driven by the COVID-19 pandemic to increase capacity in existing products and introduce new products, both of which will drive substantial growth in the future,” Axelum president and COO. Henry J. Raperoga, said.
Axelum said it is setting aside approximately ₱350 million for CAPEX 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. By virtue of our demonstrated resilience, together with our inherent grit, flexibility and faith in God, we firmly believe that we are headed in the right direction,” concluded Mr. Raperoga.
Recently, Axelum announced the extension of its share buy-back program up to ₱500 million until June 30, 2021. To date, the company has purchased a total of 80,429,000 treasury shares.
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