The golden giant: A history of RFM Corporation, 1957-2008

• Main Author: Cedenio, Alexis O. Go
• Format: text
• Language: English
• Published: Animo Repository 2010
• Subjects: Wheat; History
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/2429
• Institution: De La Salle University

This thesis is about the history of RFM Corporation, formerly known as Republic Flour Mills, Incorporated. The study begins in 1957, when the company was given its license to operate, until its fiftieth year in 2008. Aside from a narrative of the company's history, this study includes critical and analytical discussion of how the company managed to be one of the biggest food and beverages industry in the Philippines for the last fifty years. The company began as an impossible dream since the Philippines is not a wheat producing country, but through the determination of Dr. Salvador Arantea and the founders of the company, RFM, Incorporated was born. The very first predicament that the company faced was getting funds from the government to start the business. The Central Bank was not keen on banking on a company that might not succeed, but in the end, the bank was persuaded to give the company the amount of money that it needed. With the right funding and importation of wheat from the United States, RFM, Incorporated ran smoothly after its first five years of operation. Under the leadership of Jose Conception, Jr. starting 1963, the company began expanding into different line of products such as meat processed goods (Swift Hotdogs) to grocery items like juices (Sunkist). The expansion went on smoothly from 1968 to 1989 until the company faced another major setback. It was not until 1989 when the company experienced another series of devastations such as transit loses partly due to the consistent brownouts that happened during this period and the El Nino phenomenon that affected the company since RFM Corporation also depended on the agricultural sector in order to do well in business. Although by 1995, the company began to regain its status and stability. Not long after the loss during the early 90s came another desolation to the company when the Asian Financial Crisis hit the Philippines in 1997. RFM Corporation was greatly affected as it was forced to sell many assets and concentrate on its core product in order to survive the ordeal. One percent inspiration and ninety-nine percent perspiration is true to the fact when it comes to RFM Corporation. From an impossible dream to becoming one of the Philippines' largest food and beverages industry might have seemed impossible, but RFM Corporation has proven this wrong. Fifty years of hard work is seen in this company, and although it might not have been the smoothest journey, RFM Corporation made it through. Many young businesses can learn from the company, one of the most important of which is to keep on going even though it's difficult to see the light at the end of the tunnel.