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March 08, 2015

RHI subsidiary acquires 26.7% of San Carlos Bioenergy

Roxas Pacific Bioenergy Corporation (RPBC), a subsidiary of sugar group Roxas Holdings, Inc. (RHI; PSEi: ROX), today acquired 26.7% of San Carlos Bioenergy, Inc. (SCBI), the country?s second largest ethanol company, for P420 million.
 
RPBC acquired the shares from the Zabaleta Group.
 
RHI Chairman Pedro E. Roxas said: ?We are excited to work with SCBI?s majority stockholder, Jimenez Group, and we look forward to contributing more to the industry.?
 
Renato C. Valencia, RHI President & CEO, said: ?This move will allow synergies and optimisation of production capacities to achieve higher efficiencies.?
 
In 2014, SCBI produced almost 29 million liters of bioethanol, second to RHI?s Roxol Bioenergy Corporation with 35.6 million liters. 
 
Both SCBI and RBC are strategically located in Negros Occidental where 60% of the country?s sugar is produced. Bioethanol is produced using molasses and or sugar juice.
 
The country?s top three bioethanol producers are GFII, SCBI and RBC.


Roxas Holdings, Inc. (RHI), a bio-sugar and bio-energy company, is the largest integrated sugar business in the Philippines. It manages sugar miller/refiner Central Azucarera Don Pedro, Inc. in Nasugbu, Batangas; sugar miller Central Azucarera de la Carlota, Inc.; ethanol producers Roxol Bioenergy Corporation in La Carlota, Negros Occidental and San Carlos Bioenergy, Inc. in San Carlos, Negros Occidental; and RHI Agri-business Development Corporation. It also holds 45% of affiliate Hawaiian-Philippine Company in Silay, Negros Occidental.

RHI is listed on the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph