Company Profile
The business was started by Jose Concepcion Sr. in 1962 with the establishment of Concepcion Industries Inc. (“CII”) after obtaining the exclusive license to distribute the Carrier Airconditioning brand in the Philippines. Over the last 50 years, CII has grown its business to be the largest most established and experienced provider of airconditioning in the Philippines. It did this by developing leading brands, forming strategic alliances and joint ventures with key partners and investing in facilities and capabilities that continue to build its leadership. It has since then successfully introduced its own brand Condura and introduced the Kelvinator brand, both for airconditioning and domestic refrigerators.
In late 2012, CII restructured its business and consolidated its airconditioning and refrigeration businesses into one holding company which gave rise to what we know now as CIC.
CIC’s leadership has been built through in-depth knowledge of the end-user and the industry as well as a proven track record which enabled us to build a strong reputation and a solid customer base. We have and continue to offer the widest range of products and end to end customized solutions to meet the needs of Filipino consumers and businesses through most recognized brand names.
But our operations span beyond manufacturing. With over 50 years of operating history, we have been able to develop the largest nationwide sales, distribution and aftermarket infrastructure for both airconditioning and refrigeration spanning across the numerous islands of Luzon, Visayas, and Mindanao. Our products are available in over 90% of all appliance outlets in the Philippines. Our business is supported by: over 170 accredited installer companies; over 130 accredited service centers; over 2,000 technicians; rapid sales facilitation and service turnaround from over 1,000 merchandisers deployed at the point of sale; and 8 dedicated parts stores. Our logistics network is supported by strategically located regional warehouses supported by over 100 delivery trucks and corresponding delivery personnel.
Key to our success are the lasting strategic alliances we have with Carrier, Toshiba and Kelvinator and most recently with Midea as we expand towards the wider spectrum of consumer appliances; and Otis as we focus on harnessing our ability to provide a full range of building and industrial solutions.
For the full year 2013, the Company’s sales and services amounted to P7.6 billion with a consolidated net income of P841 million (P 511 million net of minority interest).
Concepcion Industrial Corporation (“CIC”) is one of the Philippines’ most established and leading providers of airconditioning solutions and refrigerators. It operates principally through its two subsidiaries, Concepcion-Carrier Airconditioning Company (“CCAC”) and Concepcion Durables, Inc. (“CDI”).
Concepcion Industrial Corporation (“CIC”) is one of the Philippines’ most established and leading providers of airconditioning solutions and refrigerators. It operates principally through its two subsidiaries, Concepcion-Carrier Airconditioning Company (“CCAC”) and Concepcion Durables, Inc. (“CDI”).
The business was started by Jose Concepcion Sr. in 1962 with the establishment of Concepcion Industries Inc. (“CII”) after obtaining the exclusive license to distribute the Carrier Airconditioning brand in the Philippines. Over the last 50 years, CII has grown its business to be the largest most established and experienced provider of airconditioning in the Philippines. It did this by developing leading brands, forming strategic alliances and joint ventures with key partners and investing in facilities and capabilities that continue to build its leadership. It has since then successfully introduced its own brand Condura and introduced the Kelvinator brand, both for airconditioning and domestic refrigerators.
In late 2012, CII restructured its business and consolidated its airconditioning and refrigeration businesses into one holding company which gave rise to what we know now as CIC.
CIC’s leadership has been built through in-depth knowledge of the end-user and the industry as well as a proven track record which enabled us to build a strong reputation and a solid customer base. We have and continue to offer the widest range of products and end to end customized solutions to meet the needs of Filipino consumers and businesses through most recognized brand names.
We have established manufacturing facilities that have the capacity to produce 500,000 units of airconditioning equipment and 300,000 refrigerators located at LISP in Laguna.
But our operations span beyond manufacturing. With over 50 years of operating history, we have been able to develop the largest nationwide sales, distribution and aftermarket infrastructure for both airconditioning and refrigeration spanning across the numerous islands of Luzon, Visayas, and Mindanao. Our products are available in over 90% of all appliance outlets in the Philippines. Our business is supported by: over 170 accredited installer companies; over 130 accredited service centers; over 2,000 technicians; rapid sales facilitation and service turnaround from over 1,000 merchandisers deployed at the point of sale; and 8 dedicated parts stores. Our logistics network is supported by strategically located regional warehouses supported by over 100 delivery trucks and corresponding delivery personnel.
Key to our success are the lasting strategic alliances we have with Carrier, Toshiba and Kelvinator and most recently with Midea as we expand towards the wider spectrum of consumer appliances; and Otis as we focus on harnessing our ability to provide a full range of building and industrial solutions.
For the full year 2013, the Company’s sales and services amounted to P7.6 billion with a consolidated net income of P841 million (P 511 million net of minority interest).
Company History
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.
Our Brands
Carrier continues to leverage its unmatched experience and expertise as an industry leader and pioneer to become the most trusted name in airconditioning. For 110 years, Carrier’s first class airconditioners have been cooling the world and have been providing exceptional cooling comfort to countless homes, buildings, and landmark structures around the world, a testament to the inventor of airconditioning’s vision of product excellence and legacy of innovation.
Carrier continues to leverage its unmatched experience and expertise as an industry leader and pioneer to become the most trusted name in airconditioning. For 110 years, Carrier’s first class airconditioners have been cooling the world and have been providing exceptional cooling comfort to countless homes, buildings, and landmark structures around the world, a testament to the inventor of airconditioning’s vision of product excellence and legacy of innovation.
Concepcion-Carrier Air Conditioning
Proudly Philippine made, Condura’s line of high quality and durable cooling and refrigeration solutions is a product of homegrown ingenuity and innovation, built for Philippine conditions. Featuring commercial-grade quality materials and solid design, the Condura line can withstand harsh weather conditions, making it an excellent choice for any Filipino home and business
Concepcion Durables Inc.
Proudly Philippine made, Condura’s line of high quality and durable cooling and refrigeration solutions is a product of homegrown ingenuity and innovation, and built for Philippine conditions. Featuring commercial-grade quality materials and solid design, the Condura line can withstand harsh weather conditions, making it an excellent choice for any Filipino home and business.
Concepcion-Carrier Air Conditioning
Proudly Philippine made, Condura’s line of high quality and durable cooling and refrigeration solutions is a product of homegrown ingenuity and innovation, built for Philippine conditions. Featuring commercial-grade quality materials and solid design, the Condura line can withstand harsh weather conditions, making it an excellent choice for any Filipino home and business
Concepcion Durables Inc.
Proudly Philippine made, Condura’s line of high quality and durable cooling and refrigeration solutions is a product of homegrown ingenuity and innovation, and built for Philippine conditions. Featuring commercial-grade quality materials and solid design, the Condura line can withstand harsh weather conditions, making it an excellent choice for any Filipino home and business.
On March 28, 2014, CIC closed a joint venture agreement with a subsidiary of United Technologies Corporation (UTC) to acquire majority stake in Otis E&M Company Philippines, Inc. (OTIS) through its subsidiary CCAC. CCAC acquired 85% stake in COPI resulting in CIC effectively owning 51% of Otis.
CIC, through its Building and Industrial Solutions (BIS) group, is moving towards a worldwide trend into end-to-end building solutions and partnering with Otis as one of the leading providers of elevators and escalators in the country is an advancement towards the strategy.
Otis Elevator Company started its business in the Philippines in 1935 and it was the first elevator company in the country. COPI’s primary business is to import, buy and sell at wholesale, distribute, maintain and repair, elevators, escalators, moving walkways, shuttle systems and all supplies, materials, tools, machinery and parts or component thereof.
Post-acquisition, the company was renamed Concepcion-Otis Philippines, Inc.
On March 28, 2014, CIC closed a joint venture agreement with a subsidiary of United Technologies Corporation (UTC) to acquire majority stake in Otis E&M Company Philippines, Inc. (OTIS) through its subsidiary CCAC. CCAC acquired 85% stake in COPI resulting in CIC effectively owning 51% of Otis.
CIC, through its Building and Industrial Solutions (BIS) group, is moving towards a worldwide trend into end-to-end building solutions and partnering with Otis as one of the leading providers of elevators and escalators in the country is an advancement towards the strategy.
Otis Elevator Company started its business in the Philippines in 1935 and it was the first elevator company in the country. COPI’s primary business is to import, buy and sell at wholesale, distribute, maintain and repair, elevators, escalators, moving walkways, shuttle systems and all supplies, materials, tools, machinery and parts or component thereof.
Post-acquisition, the company was renamed Concepcion-Otis Philippines, Inc.
The Kelvinator brand has made a name for itself for providing window room airconditioners that combine high U.S. quality at prices affordable to Filipino consumers. The Kelvinator line delivers efficient and quality cooling that gets the job done for everyone.
The Kelvinator brand has made a name for itself for providing window room airconditioners that combine high U.S. quality at prices affordable to Filipino consumers. The Kelvinator line delivers efficient and quality cooling that gets the job done for everyone.
Midea, one of world’s largest manufacturers of appliances, covers a complete range of products from electric kettles, microwaves, washing machines to large commercial air-conditioning systems. Thriving in over 150 countries, Midea has now arrived in the Philippines! In partnership with Concepcion Industrial Corporation, Midea’s global strength in the appliance industry fused with CIC’s values of integrity, excellence and total customer satisfaction give the world class brand a better understanding of the Filipino’s needs. This way, with Midea, the Filipino can live different, choose different.
Midea, one of world’s largest manufacturers of appliances, covers a complete range of products from electric kettles, microwaves, washing machines to large commercial air-conditioning systems. Thriving in over 150 countries, Midea has now arrived in the Philippines! In partnership with Concepcion Industrial Corporation, Midea’s global strength in the appliance industry fused with CIC’s values of integrity, excellence and total customer satisfaction give the world class brand a better understanding of the Filipino’s needs. This way, with Midea, the Filipino can live different, choose different.
Toshiba is the product of the historic partnership between Toshiba, the inventor of inverters, and Carrier, the inventor of airconditioners. This collaboration has engineered some of the industry’s most advanced cooling solutions, including the acclaimed smms-i system, a variable refrigerant flow (VRF) system, used in many of the world’s largest buildings, for its energyefficient features. This makes any Toshiba cooling solution a reliable investment.
Toshiba is the product of the historic partnership between Toshiba, the inventor of inverters, and Carrier, the inventor of airconditioners. This collaboration has engineered some of the industry’s most advanced cooling solutions, including the acclaimed smms-i system, a variable refrigerant flow (VRF) system, used in many of the world’s largest buildings, for its energyefficient features. This makes any Toshiba cooling solution a reliable investment.
Our Leadership
RAUL JOSEPH A. CONCEPCION
RENNA C. HECHANOVA-ANGELES
RAUL ANTHONY CONCEPCION
JOSE MA. A. CONCEPCION
MA. VICTORIA HERMINIA C. YOUNG
Director
RAISSA C. HECHANOVA-POSADAS
CESAR A. BUENAVENTURA
ALFREDO E. PASCUAL
Independent Director
JAYSON L. FERNANDEZ
RAFAEL C. HECHANOVA JR.
MA. VICTORIA A. BETITA
RAJAN KOMARASU
HAROLD THOMAS PERNIKAR JR.
PHILLIP F TRAPAGA
ALEXANDER T. VILLANUEVA
JOSEPH ANGELO BRIONES
SHAUN BYRNE
Our Core Values
Performance
We are a High Performance Organization, and our utmost expectations for ourselves speak of the level of performance we commit to our customers, our colleagues, and our shareholders. Exceeding their expectations is our utmost priority.
Meritocracy is a principle we deeply believe in, and we know that the level of returns we expect is always commensurate to the level of value we deliver to all our stakeholders.
Customer-centricity
We know that if we focus on our customers, all things that should be important in what we do and how we do it will always follow. We treat each customer, whether internal or external, as integral parts of our business.
We listen to them, deliver on our commitments, and hold their satisfaction at the core of our business. We care for our customers, and our systems and processes make it easier to deal with us.
Environment, Health and Safety
Our output reflects the DNA of who we are, and this is evident in the utmost safety we ensure in all our products and in the delivery of our services.
We provide our employees with a safe and hazard-free workplace where we continuously promote good health, a healthy lifestyle, and an environment that fosters balanced well-being.
Quality
We do not take shortcuts and we never compromise on quality. We embrace a culture of excellence in everything that we do. As such, we are able to take pride in the results that we deliver.
Employee Management
In no small measure, we believe that our success depends on the high level of engagement of our employees — our Company’s most important asset. The more we remember this, the more successful we have become.
We believe that our capability to do things is a shared responsibility between the Company and employees, and so we work together to develop ourselves and our organization to the fullest of our collective potential.
Our culture is one that ensures that our employees are fully engaged and are capable and empowered to make the right decisions.
Integrity
We do the right thing, the right way, all the time. We always remember to act with the utmost respect in dealing with all our stakeholders and never forget to preserve the dignity of anyone we interact with. We self-check our own decisions, and immediately escalate potential compliance concerns to those who are able to act on them. We maintain our integrity at all times, especially in challenging situations.
Ownership
“Malasakit”, or a strong sense of ownership, defines everything that we do. We share a sense of loyalty to both the company and the people we work with. We value stewardship, accountability, and responsibility in our work and all of our interactions.
We know that whatever we do, however big or small our role is in our organization, contributes to Nation Building. This is how we personally find the drive and relevance in “Building Better Lives and Businesses”. We always go the extra mile because this is our way of giving back.
Our Core Values
We are a High Performance Organization, and our utmost expectations for ourselves speak of the level of performance we commit to our customers, our colleagues, and our shareholders. Exceeding their expectations is our utmost priority.
Meritocracy is a principle we deeply believe in, and we know that the level of returns we expect is always commensurate to the level of value we deliver to all our stakeholders.
We know that if we focus on our customers, all things that should be important in what we do and how we do it will always follow. We treat each customer, whether internal or external, as integral parts of our business.
We listen to them, deliver on our commitments, and hold their satisfaction at the core of our business. We care for our customers, and our systems and processes make it easier to deal with us.
Our output reflects the DNA of who we are, and this is evident in the utmost safety we ensure in all our products and in the delivery of our services.
We provide our employees with a safe and hazard-free workplace where we continuously promote good health, a healthy lifestyle, and an environment that fosters balanced well-being.
We do not take shortcuts and we never compromise on quality. We embrace a culture of excellence in everything that we do. As such, we are able to take pride in the results that we deliver.
In no small measure, we believe that our success depends on the high level of engagement of our employees — our Company’s most important asset. The more we remember this, the more successful we have become.
We believe that our capability to do things is a shared responsibility between the Company and employees, and so we work together to develop ourselves and our organization to the fullest of our collective potential.
Our culture is one that ensures that our employees are fully engaged and are capable and empowered to make the right decisions.
We do the right thing, the right way, all the time. We always remember to act with the utmost respect in dealing with all our stakeholders and never forget to preserve the dignity of anyone we interact with. We self-check our own decisions, and immediately escalate potential compliance concerns to those who are able to act on them. We maintain our integrity at all times, especially in challenging situations.
“Malasakit”, or a strong sense of ownership, defines everything that we do. We share a sense of loyalty to both the company and the people we work with. We value stewardship, accountability, and responsibility in our work and all of our interactions.
We know that whatever we do, however big or small our role is in our organization, contributes to Nation Building. This is how we personally find the drive and relevance in “Building Better Lives and Businesses”. We always go the extra mile because this is our way of giving back.
Our Organization
Our Shareholders
Our Companies
