May 29, 2013

Vulcan reorganization seen early next year

Vulcan Industrial & Mining Corp., controlled by the Ramos family of National Book Store, is expected to complete its corporate reorganization in the first quarter next year. Shareholders approved yesterday the transfer of Vulcan’s mining and oil-related assets to another firm.

The firm will also change its primary purpose from mining to retail, with its secondary purposes to include wholesaling, publishing, printing, manufacturing, distribution and contracting.

Last year, revenues of National Book Store reached P10 billion, from P9.5 billion in 2011. Around 60 percent of National Book Store’s business volume is made up of stationery and office supplies. The Ramos family is adding 10 to 15 new stores this year to expand its 165-branch network. - WealthSec