In 1991, Government declared it a policy to provide the impetus to the growth, promotion and development of the Iron and Steel Industry as the springboard and basis for Philippine industrialization.
To stir investor interest and ensure the growth of the Iron and Steel Industry, then Pres. Corazon Aquino enacted on Aug 8, 1991, Republic Act 7103, also known as the IRON AND STEEL INDUSTRY ACT.
During the same period, Philsteel Holdings Corp. Chairman, Abeto A. Uy decided it was time to give shape to his long-cherished vision of helping the Filipino enjoy the world’s best steel products at the least possible cost and to assure that, these had to be manufactured locally.
With Government asking the help of Philsteel to jumpstart the country’s industrialization through an integrated iron and steel industry, under the mandate of R.A. 7103 and guided by its Chairman’s vision of a more progressive Filipino….