SteelAsia is a company born out of a partnership that started in 1965. Filipino businessmen Benito Yao and Go Kim Pah (founder of Equitable Bank) joined forces to create a rolling mill called Island Metal. The small rebar facility would eventually bloom into one of the world’s largest and most modern rebar manufacturing companies today.
In the late 1980s, under the leadership of successor Benjamin Yao, the company would expand and modernize its manufacturing capability as a platform to help the Philippine steel industry become part of the solution. Until the mid-1990s, the highly fragmented Philippine steel industry comprised over 50 small steel bar rolling mills of circa 19th century and early 20th-century technology. Obsolete and inefficient, the Philippine steel industry could hardly be a positive factor in contributing to the country’s economic development. It burdened the construction and property development sector with its high cost of production, inefficiency, and spotty track record of quality and timely delivery. The solution was scale and modernization.
In 1994, a project was underway to establish the Philippines’ first state-of-the-art steel bar rolling mill. Driving the endeavor, SteelAsia Manufacturing Corporation envisioned a facility that would be a national asset. World-class steel products and services would lower the cost of construction and help spur economic growth. When the mill - a showcase of European technology - was commissioned in 1996, it was a statement to the ASEAN steel community that the Philippines had finally joined the ranks of modern industrialization.
SteelAsia today plays a crucial role in national development.
Around one of every two steel bars installed in construction are manufactured by SteelAsia. SteelAsia supplies more than 80% of the steel bar requirements for land, air, sea, power, and communications infrastructure. It is the preferred supplier of the largest contractors and property developers in the Philippines.
It is vertically integrated, both upstream and downstream, having the largest and most modern steel billet-making facility and the largest rebar fabrication plant in the country. With six plants operating across the archipelago, it is adding two more among the world’s largest and most modern steel bar mills to meet the needs of today’s unprecedented economic growth.