SteelAsia Manufacturing Corporation

In 1965, a partnership between two Filipino businessmen, Benito Yao and Go Kim Pah, created a rolling mill named Island Metal. This modest rebar facility was the seed that would grow into one of the world's major rebar manufacturers, SteelAsia Manufacturing Corporation. The company's core business is producing reinforcing steel bars, a critical component for construction and infrastructure. During the 1980s, Benito's son, Benjamin Yao, took the helm and began a significant push for modernization and expansion. A pivotal moment came in 1996 when the company, in partnership with National Steel of Singapore, launched a new mill with modern technology, signaling the Philippines' entry into modern steel industrialization. This focus on technology and strategic expansion allowed SteelAsia to become the country's largest rebar manufacturer by 2000. The company's growth continued through strategic acquisitions of other steel plants and the construction of new, modern mills across the Philippines. This expansion was driven by a clear mission: to support national development and reduce the country's reliance on imported steel. SteelAsia has consistently invested in new facilities to produce products that were previously only available through importation. While the company has expressed plans for an Initial Public Offering (IPO) to fund its aggressive expansion, it has remained private, focusing on project execution. SteelAsia has secured significant funding for its expansion through major loans and partnerships, including a notable agreement with China's Baowu Group to build a massive integrated steel facility. Today, SteelAsia continues to be a foundational player in the nation's development, embodying a multi-generational journey from a single mill to a steel industry powerhouse.