| SteelAsia | |
| Former Name: | Island Metal Manufacturing Corporation |
| Type: | Private |
| Industry: | Steel |
| Predecessors: | --> |
| Successors: | --> |
| Founded: | in Meycauayan, Philippines |
| Founders: | Benito Yao Go Kim Pah |
| Hq Location Country: | Philippines |
| Num Locations: | 6 steel mills |
| Num Locations Year: | 2023 |
| Areas Served: | --> |
| Key People: | Benjamin Yao, Chairman, President and CEO |
| Products: | Reinforcing steel bar |
| Production: | 3 million tons per year[1] |
| Production Year: | 2020 |
| Profit: | --> |
| Profit Year: | --> |
SteelAsia Manufacturing Corp. (SAMC), also known as SteelAsia, is a Philippine steel company based in Taguig, Metro Manila which is mainly a reinforcing steel bar producer.[2]
SteelAsia was established in 1965 by Benito Yao and Go Kim Pah, the latter being the founder of Equitable Banking Corporation.[3] 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.[4]
In the 1980s, Benjamin Yao took over SteelAsia's operations.[3] It would establish its second mill named Peninsula Steel in 1989 in Meycauyan, Bulacan.[4] SteelAsia would establish a new steel bar mill in Bulacan in 1996 which introduced modern rolling mill technologies to the Philippine steel industry.[5] [6]
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.[7] In 2014, it began operations of two steel mills in Mindanao, to serve the Mindanao region.[8]
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.[9] 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.[10]
SteelAsia Manufacturing Corporation's Compostela, Cebu plant, CEO Ben Yao & Rafael Hidalgo exported P1.8 billion (35,000 metric tons) worth of green steel, high-strength rebar to a Canadian subway system in Vancouver. Acciona designed the 3-kilometer section of the Ontario Line subway. "We also supplied the bar for the Cebu–Cordova Link Expressway and the contractor was Acciona," Benjamin Yao said. Further, it obtained an P8.3-billion loan for its P18-billion steel mill in Lemery, Batangas.[11] [12]
SteelAsia operates six steel mills as of 2023.