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LMG Chemicals Corporation
|LMG Chemicals Corporation (LMG) was incorporated on April 20, 1970 as industrial chemicals manufacturer and distributor. This includes caustic soda, sulfur and other industrial chemicals. In October 2007, LMG transferred its acid plant and tank farm properties to wholly-owned subsidiaries, Chemphil Manufacturing Corp. (CMC), formerly Chemphil Marketing Corp., and LMG Land Development Corporation (LMGLDC), respectively, to consolidate the acid plant and tank farm operations into individual holding companies for better management and monitoring. Starting 2009, upon divestment of its subsidiaries, the Company's operations have shifted to trading.
In August 2008, LMG and LMGLDC, together with Chemical Industries of the Philippines (CIP), entered into a shares and asset purchase agreement with Chemoil Fuel Philippines, Inc. (CFPI) and Chemoil Energy Philippines, Inc. (CEPI) to sell and transfer the entire LMG shares in LMGLDC and to sell the property owned by CIP in Pinamucan, Batangas to CFPI and CEPI, respectively.
In October 2009, the BOD of LMG declared LMG's investment in shares of CMC and Kemwater Phil. Corp. (KPC) as property dividends. Two months after, a deed of assignment was executed to assign LMG's rights, titles and interest over the shares in CMC and KPC to the stockholders of LMG in proportion to their respective shareholdings.
As a result of the divestments, LMG is now engaged in the trading of chemical products. The products traded include caustic soda, sulfur and other industrial chemicals.
Source: SEC Form 17-A (2015)
|Incorporation Date||Aug 12, 1970|
|Number of Directors||11|
|Stockholders' Meeting as per By-Laws||September - third Thursday|
|Fiscal Year||12/31 (Month/Day)|
|External Auditor||SyCip, Gorres, Velayo & Company|
|Transfer Agent||Stock Transfer Service, Inc.|
|Business Address||Chemphil Building, 851 Antonio Arnaiz Ave., Makati City|
|Telephone Number||818-8711 to 26|