Word: soriano
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Dates: during 1960-1969
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...tireless concern for detail, plus a flair for profitable experimentation, has made tough, touchy Andres Soriano one of the Philippines' top-ranking tycoons, with an estimated personal fortune of $80 million...
...told, Soriano controls or has a major interest in 14 companies ranging from Philippine radio and TV stations to breweries in Hong Kong and Spain and a fishing business in Borneo. Last year, the major firms controlled by his A. Soriano & Co. netted $6,400,000 on sales of $74.8 million. Since World War II, his enterprises have averaged a breathtaking 35% annual return on invested capital...
Altering the Pattern. In Soriano's lifetime, the Philippines have begun the transition from a feudal agricultural society to a modern industrialized economy, and Soriano has been a leader in the process...
...traditional Philippine pattern of easy enjoyment of inherited wealth was not for Soriano. From the brewery, he expanded into the soft-drink business, then set up a plant to make bottles for his beverages and opened a silica mine to provide the raw materials for the glass...
...Soriano likes to say that business "must help the country," and he has played a major role in developing such Philippine resources as gold, iron, copper and lumber, as well as in the development of local industry to capitalize on those resources...