San Miguel Denies Interest In Philbest Tuna Operationsff

In a formal statement to the Philippine stock exchange San Miguel Corporation the country’s largest beer producer and food company, denied to be engaged in any talks regarding the acquisition of Philbest canning corporation. However, the company said, that it is continuously looking into possible key opportunities in the food industry, among them the tuna canning industry.

In a reaction also the RD Corporation, the main shareholder of Philbest Canning Corp., said that “Philbest has never been intended for sale. As a matter of fact, your article of May 22 on IGLOO Cold Storage is a clear indication that we intend to support Philbest with ancillary services as Philbest plans to increase its capacity soon after IGLOO’s completion.”