Eei Corp: Past, Present and Future

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  • Topic: Project management, Construction, Sewage treatment
  • Pages : 5 (1145 words )
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  • Published : January 26, 2011
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rechmay_hernandez@yahoo.com
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Company History

A Pioneer
EEI Corporation was incorporated in 1931 by Mr. Rey Parker, a retired officer of the United States Navy, as Engineering Equipment & Supply Company ( EESCO) in 1931. The company focused on the trading in mill equipment for the mining industry. EESCO eventually diversified into the steel fabrication business, constructing sea vessels, truck bodies and trailers and structural pipes. During the reconstruction after World War II, the Company pursued and expanded into the construction of steel structures.It also constructed the first commercial foundry in the Philippines equipped to produce carbon steel and manganese castings. In 1964, EESCO changed its name to Engineering Equipment, Inc. (or EEI). Benguet Consolidated, Inc. (now Benguet Corporation and a major mining company) acquired major shareholdings of EESCO in 1959. Then Chairman Jaime V. Ongpin introduced modern management structures and practices in the company, which shaped its future course as a construction corporation. His legacy was a clear vision and spirit, which laid the foundation for the transformation of the company as a modern corporation. In 1975, the Company ventured into overseas construction in the United Arab Emirates and the Kingdom of Saudi Arabia. Within the year, it listed its shares in the Philippine Stock Exchange, thus becoming a publicly listed company With its success in overseas contracting, EEI diversified in the 1980s into ancillary businesses. New subsidiaries, particularly EEI Marine, Gulf Asia International Services, Gulf Asia Travel and EEI Power, were established to balance the company’s business portfolio. It also organized the EEI Foundation which was the vehicle for the implementation of its social responsibility dendeavors. In 1992, the Company changed its name from Engineering Equipment Inc. to EEI Corporation, which marked the beginning of a new phase in its history. Majority ownership passed on to the consortium of the Yuchengco Group of Companies and the International Container Terminal Services Inc. The Yuchengco Group consolidated its ownership in EEI through its holding company, House of Investments, in 1996. During the year, the Company merged with Philrock Inc., a corporation engaged in pre-cast fabrication of concrete products and horizontal and civil construction.

Under new ownership and management, the Company has continued its quest for excellence and pioneering leadership in the construction industry. It expanded into high-rise construction and infrastructure, while establishing joint ventures with global engineering players to forge its core competence in these fields. On the heels of the Asian financial crisis and political upheavals in the late 1990s, the Company sharpened its focus on its core business, strengthened project and contract management capability and streamlined operations. Now, with the economic crisis and the prolonged construction slump behind it, EEI is looking ahead to a new chapter of growth.

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Products and Services
The Broadest Range of Construction Capability
EEl Corporation is one of the Philippines’ leading construction companies and a major player in power, oil and petrochemical, infrastructure, commercial and industrial sectors. With more than 75 years of experience, it has a proven track record of outstanding quality, reliability and better than on-time delivery of projects.

With our reputation for world-class construction expertise and our resolve to be cost-competitive, the EEI of today is able to take on projects at the scale, complexity and range of work specialization required by proponents and principals, anywhere in the world.

The Company is ISO 9001:2000 certified.
EEl is now a LEADING provider of...
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