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PHINMA Corp., led by billionaire Ramon del Rosario Jr.’s family, is set to strengthen its position in the local cold storage solutions market with the construction of its new insulated panel factory.
Union Insulated Panel Corp. (UIPC), a subsidiary of PHINMA’s construction materials division, broke ground on Wednesday for its Pampanga plant, aiming to meet the increasing demand for insulated panels as the country expands its cold storage infrastructure.
The facility, which will have an annual capacity of one million square meters of insulated panels, is expected to make PHINMA the country’s largest local provider of cold storage solutions, according to UIPC Chief Operating Officer Danielle del Rosario. The factory, set to begin operations in 2026, is designed to be both efficient and scalable, allowing it to swiftly adapt to market demand.
“We saw a significant business opportunity,” del Rosario told Bilyonaryo.com. “There is an ongoing expansion in cold storage, and we believe we can bridge the supply gap.”
Currently, PHINMA is among the top four local suppliers in a market with only a few domestic manufacturers, many of which rely on imported materials to meet demand.
According to Mordor Intelligence, the Philippine insulated panel market is dominated by five key players: Union Galvasteel, Ultra Insulated Panel Systems Corp., iSteel, Metalink, and VBLLU Inc. While cold chain storage is a major driver of demand, insulated panels are also widely used in residential buildings, data centers, and warehouses.
These panels serve as essential wall and ceiling components in freezers, clean rooms, cold storage facilities, and portable buildings. They are also used in food production, as well as for cost-effective partitions and temporary or permanent interior walls.
UIPC was established in 2022 after PHINMA’s Union Galvasteel Corp. spun off its insulated panel division, already led by Danielle del Rosario. The move was driven by the pandemic’s exposure of critical gaps in the country’s cold storage infrastructure, extending beyond vaccine storage. The company has also observed growing demand from key clients, including San Miguel Corp.
“A robust cold storage chain is crucial for the government’s food security initiatives, further reinforcing our decision to build this new factory,” del Rosario added.
Beyond cold storage, the panels will also cater to the construction of homes, hospitals, factories, and offices, expanding the company’s market reach.
“The demand for cold storage is growing,” del Rosario said. “We are already in this business, and the margins are promising. More importantly, this expansion aligns with our mission to support the country, which still faces a shortage of cold chain facilities.”
Link to story: Frosty Forecast: Del Rosario’s PHINMA Poised to Lead Cold Storage Market
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