The corporate history of LMG Chemicals Corporation (LMG) dates back to 1970, when LMG Chemicals Inc.* was incorporated. However, in terms of its oldest business activity, namely the sulfuric acid manufacturing and marketing operations - this brings one back to 1951 - the establishment of the first sulfuric acid plant in the Philippines.
In 1988, LMG Chemicals Corporation - then as LMG Chemicals Inc. whose only business was the Organic Division - absorbed Chemphil Manufacturing Corp.** - then engaged in what is now known as the Inorganic Division. At that stage of its corporate history, LMG changed its name to Chemphil-LMG Inc. (CLI)- to become the single largest chemical manufacturer in the country.
On 24 January 1994 - Chemphil-LMG Inc. (CLI)- changed its corporate name to LMG Chemicals Corporation (LMG).
On 03 November 1997, LMG spun-off its Alum Business to Kemwater Philippines Corporation (KPC) a joint venture company between companies in the Chemphil Group namely, Chemical Industries of the Philippines, Inc., Chemphil Manufacturing Corporation (CMC), a 100%-owned subsidiary of LMG, and ultimately, LMG itself - entered into a joint venture agreement (JVA) with Kemira Chemicals Oy of Finland. Kemwater Philippines Corporation (KPC) was registered with SEC on 09 December 1997. KPC then took over the alum plant operation. LMG is the main supplier of a major raw material of KPC - sulfuric acid.
In 1998, LMG again had another spin-off. This time, it ceded its trading operations to Chemphil Marketing Corp., a 100% subsidiary. Subsequently, on 05 October 1998, Chemphil Marketing Corp. entered into an agreement with GFI Far East PTE Ltd. The company became the exclusive agent of GFI Far East, an affiliate of GFI, Inc., one of the leading chemical distributors in the United States for the sale of liquid caustic soda and other industrial chemicals in the Philippines.
On 23 October 2007, the Board of Directors of LMG Chemicals Corp. (LMG) approved a resolution for the transfer of its properties as follows:
Additionally, on 15 August 2008, LMG and LMG Land Development Corp. (LMG Landco) together with Chemical Industries of the Philippines, Inc. (CIP), the holding company of the Chemphil Group and its affiliates including LMG, CMC and LMG Landco, entered into a Shares and Asset Purchase Agreement with Chemoil Fuel Philippines, Inc. and Chemoil Energy Philippines, Inc. to sell and transfer the entire LMG shares in LMG Landco and to sell the property owned by CIP in Pinamucan, Batangas to Chemoil Fuel Philippines and Chemoil Energy Philippines, Inc., respectively.
Hence, at this time, LMG is a holding company which owns 100 % of CMC 100 % and 60 % of Kemwater Phils. Corp. (KPC).
Last Update : 26 October 2009