CDO cites BDO's contribution to growth

WHAT started as a mere backyard business in their residence in Valenzuela City 35 years ago, is now a certified successful enterprise.

Corazon D. Ong, the entrepreneur behind CDO Foodsphere, Inc., said perseverance, innovative ideas and hard work as well as the funding support made available by Banco De Oro Unibank, Inc., are behind the company's phenomenal growth.

"BDO really played a major role in our business growth. Through the years they have continuously provided us with the financial support we need for additional working capital and fixed assets acquisition," Ong, vice chairman of the company, said at the sidelines of the SME Forum recently hosted by BDO in Batangas.

BDO, for its part, considers CDO as one of its valued corporate clients and is very proud of what the food manufacturer has achieved over the years. BDO recognizes the reciprocal business CDO has been contributing to the Bank through the years.

Ong explained that apart from for plant expansion, the BDO loan facility was also used for short term needs such as the purchase of raw materials from local suppliers and imported sources.

CDO inaugurated on June 26, 2009 its mega-plant and production facilities in Malvar, Batangas. This new and state-of-the-art plant will not only play a significant part in revitalizing the business and boosting livelihood opportunities in the province, but will also bolster the food supply and ensure food security in the country.

Despite the global economic downturn, the local meat processing industry remains resilient and steadfast in providing employment and supplying meat products to consumers. Industry analysts even project an eight to ten percent cumulative growth for the industry this year.

"Our main product is food, which is a basic need. Thankfully, we were not affected [by the global crisis]. We have loyal consumers from the A,B, C and D markets. Volume actually increased because of the increase in population," explained the 65-year-old Ong.

The company is behind the best-selling products like CDO Karne Norte, CDO Bibbo! Hotdog, CDO Meatloaf, CDO Hamburger Patties, CDO Holiday Ham, Samba Corned Beef and the recently launched San Marino Corned Tuna (canned).

CDO products are currently being exported to Qatar, UAE, Saudi Arabia and Japan.