Ayala Corporation (Spanish: Corporación Ayala, formerly Ayala y Compañía) is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines by Domingo Róxas and Antonio de Ayala during the Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, and management and business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7B).
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History
The company began in 1834 with the formation of a distillery owned by Casa Róxas, a partnership between Domingo Róxas and Antonio de Ayala. The distillery was the maker of Ginebra San Miguel and was later acquired by La Tondeña, Inc. in 1929.
In the late 19th century, Ayala participated in the construction of the Puente de Ayala (Ayala Bridge) over the Pasig River in Manila. Built of wood in 1872, the bridge was reconstructed in steel in 1908 and became the first steel bridge in the Philippines. In 1888, Ayala introduced the first tramcar service in the Philippines. Ayala was responsible for the development of Makati as the financial district of Manila and the Philippines after World War II.
In April 2010, FinanceAsia named Ayala Corporation as the best-managed company in the Philippines, as well as best for corporate governance and best for corporate social responsibility.
In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power, the purchase of the iconic Northwind farm for wind power, and its joint venture with Sta. Clara Power for run-of-the-river hydro power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015. In 2015, FinanceAsia awarded Ayala Corporation as the Best Managed Company in the Philippines in the 15th annual survey of top public companies in Asia.
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Attached companies and investments
Retirement of the Ayala chairman
In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.
Oldest business house in Philippines
In 2014, Ayala celebrated its 180th anniversary. The company is credited for having contributed to the socio-economic development of the Philippines.
References
External links
- Ayala Corporation website
- Ayala at 175 magazine
- Philippine Stock Exchange Information Page on Ayala Corporation
Source of the article : Wikipedia
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