Incorporated in September 1963, Steniel Manufacturing Corporation (STN) and its subsidiaries are engaged in the manufacture of industrial packaging materials, with revenues coming from the sale of corrugated boards and boxes. STN's other sources of revenues are derived from rental income from certain properties that are leased to third parties. The company's subsidiaries consist of Metroplas Packaging Products Corporation, Steniel Cavite Packaging Corporation, Treasure Packaging Corporation, Steniel Carton Systems Corporation, Metro Paper and Packaging Products, Inc., and Steniel Mindanao Packaging Corporation. The basic raw material used by STN is paper. A majority of the paper inventory is procured from local paper mills, although the company imports some of its requirements from Asia, America and Europe. Other raw materials, which consist mainly of inks, tapes and glue, are sourced from local suppliers. STN's customers include companies in several industries such as agriculture, food, beverage, and other consumer goods. Source: SEC Form 17-A (2008)