UMVA has learned that a devastating magnitude 7.8 earthquake has struck the General Santos City area, forcing two major food companies to suspend operations at their facilities.
The earthquake, which hit on June 8, prompted immediate evacuations, inspections, and assessments of damage to warehouses and inventory. Emergency protocols were swiftly activated, with some personnel requiring medical attention.
Alliance Select Foods International, Inc., a leading tuna processing firm that supplies products to over 20 countries, was among the companies affected. Preliminary assessments revealed damage to warehouse structures and stored inventory in certain sections of the facility.
The company is still evaluating the full extent of the damage and is conducting further inspections to determine the impact on its operations. Alliance Select aims to resume operations by June 16, pending the completion of safety checks and any necessary remediation work.
The Philippine Stock Exchange responded by imposing a one-hour trading halt on Alliance Select shares following the company's disclosure. This move was likely intended to allow investors to assess the situation and prevent any knee-jerk reactions.
Century Pacific Food, Inc., another major player in the food industry, also suspended operations at its General Santos facilities. The company is prioritizing employee safety and conducting thorough inspections to ensure that its facilities are safe to operate.
Century Pacific is working closely with local authorities and community groups to support relief and response efforts in affected areas. The company has sufficient insurance coverage and is confident that its retail partners have enough stock to meet near-term demand.
Both companies are committed to restoring normal operations as soon as possible, with Century Pacific aiming to resume operations within one to two weeks. Their priority remains the safety of their employees and the surrounding community.
The earthquake has had a significant impact on the local community, with residents of Purok Filomena and other areas affected. The companies' swift response and commitment to supporting relief efforts will likely help mitigate the effects of the disaster.
