Alaska Milk Corporation

Alaska Milk products were first manufactured in the Philippines in 1972 through Holland Milk Products, Inc. (HOMPI), a partnership between AMCs former parent company, General Milling Corporation (GMC), an industrial foods company with interests in flour, feed and soy bean milling, and a Dutch dairy company, Holland Canned Milk International B.V. HOMPI initially manufactured liquid canned filled milk products, (evaporated and sweetened condensed milk) and eventually expanded to manufacture powdered filled milk and UHT milk products division up until AMCs spin-off and incorporation as a separate and independent corporate entity in 1994. It was also a time when the company embarked on a major expansion program which prompted the company to tap the capital markets through an initial public offering (IPO) to raise funds for the capacity expansion of its powdered milk facilities. Alaska Milk shares were listed in the Philippine Stock Exchange in 1995. Post-IPO, GMC held 66% of AMC while 3...