SteelAsia

SteelAsia was established in 1965 by Benito Yao and Go Kim Pah, the latter being the founder of Equitable Banking Corporation.[4] The company was founded as the Island Metal Manufacturing Corporation setting its first steel mill in Quezon City with the capacity of 30,000 tons per year.[5]

In the 1980s, Benjamin Yao took over SteelAsia's operations.[4] It would establish its second mill named Peninsula Steel in 1989 in Meycauyan, Bulacan.[5] SteelAsia would establish a new steel bar mill in Bulacan in 1996 which introduced modern rolling mill technologies to the Philippine steel industry.[6][7]

From the mid-2000s to the early 2010s, SteelAsia expanded its reinforcing bar production capacity; from producing 279,000 tons of rebar in 2006 to 1.2 million tons in 2013, securing almost half of the rebar market share in the Philippines.[8] In 2014, it began operations of two steel mills in Mindanao, to serve the Mindanao region.[9]

The company has also lobbied against the proliferation of induction furnace produced steel which it views as substandard and a detriment to the domestic steel industry.[10] SteelAsia also started work on the Lemery Works which would be the first steel beam manufacturing facility in the Philippines upon its completion in 2023.[11]

SteelAsia operates six steel mills as of 2023.

Under-construction

• Lemery Works

Former

• Island Metal – Quezon City
• Peninsula Steel – Meycauayan, Bulacan