Bacnotan Consolidated Industries, Inc. (BCI) was incorporated on March 12, 1957. The company's principal activity is investments in shares of various subsidiaries, associates, affiliates and other marketable equity securities. The ultimate parent company of BCI and its subsidiaries is Philippine Investment-Management, Inc. (PHINMA). BCI's subsidiaries and associates are involved in investment holdings, manufacturing of galvanized and pre-painted iron sheets, business process outsourcing for animation services, education, real estate development, and real property investment. The principal subsidiaries of the company are Atlas Holdings Corporation, Union Galvasteel Corporation, One Animate Limited, Araullo University, Cagayan de Oro College, Inc., Bacnotan Industrial Park Corporation, P&S Holdings Corporation, and Asian Plaza, Inc. BCI's associates are composed of Phinma Property Holdings Corporation, Trans-Asia Oil and Energy Development Corporation, AB Capital and Investment Corporation, Luzon Bag Corporation, and Asian Coal Corporation. Source: SEC Form 17-A (2008)