Concepcion Industries Inc. (“CII”) was established in 1962 by Jose Concepcion Sr. and obtained a license from
Carrier International in the same year to offer Carrier brand air conditioners in the Philippines. In 1977,
a license for Kelvinator was obtained. In 1987, the Condura brand was introduced.
In 1992 and 1998, CII opened its air conditioning and commercial refrigeration factories, respectively,
in the Light Industry and Science Park in Cabuyao, Laguna in the Philippines. In 1997, Concepcion Air
Conditioning Corporation (“CAC”) was formed as a subsidiary of CII, and Carrier Air Conditioning Philippines
and CAC formed CCAC, a joint venture for the production of air conditioning units.