Eei Corp: Past, Present and Future

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.

Products and ServicesThe Broadest Range of Construction CapabilityEEl 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 general contracting and specialty works services and equipment systems for the building and property development and infrastructure sectors, mining and cement, communications, food processing,packaging products and other manufacturing industries, especially for fast track projects. INFRASTRUCTURE

* Roads & Bridges* Seaports & Airports* Mass Transport & Railways* Telecommunications* Irrigation & Flood Control* Dessalination Plants* Water Distribution* Sewerage & Waste Water Treatment PlantsBUILDINGS AND PROPERTY DEVELOPMENT* Office/Residential Condominium Buildings* Mixed-Use Development* (Malls, Car Parks, Exhibition Hall)* Schools & Hospitals* Amusement & Leisure Parks* Housing* Industrial ParksHEAVY INDUSTRY* Petrochemical Plants* Oil and Gas Plants* Mining Plants* Cement Plants* Water, Waste water Treatment Plants* Power Plants (steam, gas, coal, geothermal & hydro) * Transmission FacilitiesSTEEL FABRICATION* Structural Steel* Piping* Modular Fabrication* Pressure / Non-pressure vessels* TankLIGHT INDUSTRY* Food & Beverage* Semiconductors* Automotive* Textile* Pulp & Paper* Glass* Packaging* Metal

————————————————-Our PeopleOur Competitive EdgePeople are our greatest asset. Our engineers, technical and front-line project workers constitute an elite corps of manpower that has given EEI a decisive edge in providing fast, on-time and quality projects to clients and project owners.

Our employees make these attributes a way of life and an energizing force that ensure project excellence, sound fundamentals and growth. EEI workers and project management staff are regarded as highly productive, flexible and dedicated to fulfilling the high standards of the Company, even as they endure adverse working conditions that are common in industrial projects.

EEI is committed to quality and excellence in all aspects of operations. Thus, managerial, professional and technical skills training are conducted in a year-round program for employees at all levels of its organization. Construction personnel undergo trade testng, re-learning and skills upgrading in its in-house Crafts Training Center. EEI’s welders and other craftsmen have won numerous skills competitions of the Technical Education and Skills Development Authority (TESDA).

In cooperation with TESDA, trade schools and other organizations, it sponsors training in welding, pipe fitting, millwright operations and other mechanical processes that assure sufficient pool of trained workers for its Philippine and international projects. The Company also supplies trained professionals and skilled manpower to international engineering and construction companies worldwide.————————————————-

————————————————-Vision and Mission

MissionWe are a Company primarily engaged in construction, trading and in providing allied products and services in the Philippines and selected overseas markets. We are committed to: * providing quality and cost-effective products and services to our customers; * extending meaningful employment and a better quality of life to our employees; * delivering reasonable returns to our shareholders; and

* serving the welfare of the community at large.VisionWe will be an independent contractor, with a reputation for expertise, reliability and quality in the construction industry by maximizing our combined strengths through solid teamwork. To be able to achieve our mission and vision, our strategic thrusts thru 2007 will be to: * focus on profitability and return on investments over growth; * concentrate on our competencies in our core businesses of industrial plant * construction, building or vertical construction, horizontal and infrastructure * construction, and steel fabrication works;

* maintain a lean and flexible organization;* employ quality assurance in pursuit of service excellence; * practice sound financial management;* employ effective project management processes; and* develop strong project management teams and support systems.

ValuesWe are an organization committed to:* Pursuing EXCELLENCE in everything we say and do;* Embracing CHANGE in our quest for continuous improvement; and * Instituting INTEGRITY as the bedrock of employees and corporate character.