PRYCE GASES, INCORPORATED (PGI) is 98% owned by PRYCE CORPORATION. It is engaged in the manufacture and distribution of industrial and medical gases and liquefied petroleum gas (LPG) under the trade name “PRYCEGAS”. The Company operates in Mindanao and Visayas areas.
“PRYCE” is derived from the Celtic word which stands for price value. Through planning and calculated risk taking, Pryce Gases, Inc., seeks fast growth in all undertakings.
PGI was organized on October 8, 1987 to primarily engage in the production and sales of industrial gases. Its humble beginnings may be traced in 1981 when Pryce Development Corporation (PDC), the mother company of the Pryce Group, entered into a management contract with the Central Luzon Oxygen and Acetylene, Co. Inc. (CLOACO) to provide management services to the latter. CLOACO was in the business of producing and selling Oxygen and Acetylene gases. In 1982, PDC acquired full ownership of CLOACO in what may be considered a “rescue” acquisition. Soon after, CLOACO began to operate profitably through the implementation of a major marketing program throughout Central Luzon and the optimum utilization of production capacity.
In 1987, in its desire to acquire its own oxygen plants and to establish a foothold in Southern Philippines where prospects for the industry were brighter, PDC sold CLOACO’s business to Consolidated Industrial Gases, Inc. (CIGI) and established PRYCE GASES, INC. in Mindanao.
PGI started its operations in April 1988 with its first plant located at Phividec Industrial Estate, Mohon, Tagoloan, Misamis Oriental. There were two (2) plants installed in Mohon, one (1) oxygen plant and one (1) acetylene plant. These plants served the entire Mindanao and Visayas for two (2) years. In 1990, Davao plant was installed serving the whole Southern Mindanao. In 1994, PGI continued implementing its plant expansion program in the Visayas and Mindanao. Two (2) new oxygen plants arrived in the country in mid-1994. These plants were installed in new production facilities in Bacolod City and to expand plant capacity in Davao city.
In 1995 through 1996 additional oxygen and acetylene plants were installed in the cities of Zamboanga, Iloilo and Cebu. Each of these plants has a rated capacity of 150 cu. m/hr. of oxygen per plant of roughly 720 cylinders of oxygen per day. However, in 2004, the second plant in Cebu was transferred to Albuera, Leyte.
In July 2010 VIE (Vacuum Insulated Equipment) tank was installed in Naga City, Cebu with a 27,000ltr capacity for Liquid Oxygen supply. This is in partnership with Air Liquide Phils. Inc.
PGI has now a total of eight (8) air separation/oxygen plants, seven (7) acetylene plants and three (3) liquid oxygen (LOX) refilling plants with a total production capacity of Eight thousand three Sixty (8,360) cylinders per day for oxygen plant and two thousand one hundred (2,160) cylinders per day for acetylene.
At present, the Company has a vast market for its oxygen (industrial and medical) and acetylene products. Apart from oxygen and acetylene, the company also trades in other gases, such as argon, nitrogen, carbon dioxide, and compressed air. Since the establishment of the company in 1988, there has been a steady growth in the annual sales, which reflects an increasing demand of the product.
In another major venture, PGI entered the liquefied petroleum gas industry to take full advantage of the opportunities offered by the full deregulation of the downstream oil industry in the Philippines. The company started to market LPG under the trade name “PRYCEGAS” in September 1996 in 11-kilogram, 6-kilogram and 50-kilogram cylinders. Now, it also markets 22-kilogram, 5-kilogram, 2.8-kilogram and 6-kilogram cylinders (Prycegas JR).
In support of the government’s call for cleaner air, PGI opened its first Autogas Dispensing Station in central Visayas in December 2005. It is located in Canduman Road, Talamban, Cebu city. PGI even subsidized the conversion kits to support the taxi operators in converting their taxi units from gasoline-fueled to LPG-fueled.
To date, PGI has sixteen (16) LPG storage plants all over the country with a combined storage of TEN THOUSAND THREE HUNDRED FIFTY METRIC TONS (10,350 MT), seven (7) of which are Marine/Sea-fed receiving bulk terminals and nine (9) are lorry-fed plants and thirty six (36) Autogas Dispensing Stations. As of this writing, all 16 LPG terminals and refilling plants and the 36 Autogas Dispensing Stations are already operational.
The expansion in the different regions of the Visayas and Mindanao are geared toward tapping the expanding markets and ensuring the overall presence of the Company in these regions to better serve its customers. As of this writing, PGI has 28 Industrial Gases sales outlets, around 200 Prycegas Dealers and over 5,000 Prycegas sales outlets strategically spread in the Visayas and Mindanao.
With the vision to promote industrial growth, a heart full of enthusiasm and with competent, strong and dedicated Human resources, the company remains committed to better serve its customers, its employees, its creditors and its stockholders.