San Miguel Corporation

San Miguel Corporation, abbreviated as SMC, is a Philippine multinational conglomerate headquartered in Mandaluyong, Metro Manila. The company is one of the largest and most diversified conglomerates in the Philippines. Originally founded in 1890 as brewery in the Philippines, San Miguel has ventured beyond its core business, with investments in various sectors such as food and drink, finance, infrastructure, oil and energy, transportation, and real estate. Its flagship product, San Miguel Beer, is one of the largest selling beers in the world. San Miguel's manufacturing operations have extended beyond its home market to Hong Kong, China, Indonesia, Vietnam, Thailand, Malaysia, and Australia, and its products are exported to 60 markets around the world. In 1889, a well-known Manila businessman, Enrique María Barretto de Ycaza y Esteban, applied for a royal grant from Spain to establish a brewery in the Philippines. He was awarded the grant for a period of twenty years. On September 29, 1890 (Michaelmas, or the feast day of Saint Michael the Archangel), La Fábrica de Cerveza San Miguel was declared open for business. Located at 6 Calzada de Malacañan (later renamed Calle conde de Avilés and presently Jose Laurel Street), the brewery took its name from the arrabal (suburb or district) where it was located, San Miguel, Manila. The facility had two sections: one devoted to the production of ice with a daily capacity of 5 tons, and the other to beer production. The brewery was the first in Southeast Asia using the most modern equipment and facilities of the day. With 70 employees, the plant produced 3,600 hectolitres (about 47,000 cases) of lager beer during the first year and subsequently produced other types of beer, notably Cerveza Negra, Eagle Extra Stout and Doble Bock. Early success led to the expansion of the business and Barretto decided to incorporate his brewery. On June 6, 1893, the company was incorporated and registered with a capital of P180,000. Those forming the corporation were Barretto, Pedro Pablo Róxas y Castro, Gonzalo Tuasón y Patiño, Vicente D.