Mabuhay Vinyl Corporation (MVC) was incorporated as a rubber shoe manufacturer on July 20, 1934 under the name Mabuhay Rubber Corporation, and was subsequently reorganized in 1960 to engage in chemical and polyvinyl chloride (PVC) resin manufacturing. In October 10, 1966, the corporate name of Mabuhay Vinyl Corporation was adopted. MVC is engaged in the business of manufacturing and distributing basic and intermediate chemicals with a wide range of household and industrial applications, including caustic soda, hydrochloric acid, liquid chlorine and sodium hypochlorite (chlor alkali). MVC also leases warehouse and depot facilities in major ports of entry. The products are transported to the depots via specialized shipping vessels then to customers' warehouses via exclusive flatbed trucks contracted by MVC. MVC is the only chlor-alkali producer in the Philippines. On December 13, 2006, MVC implemented its ion exchange membrane (IEM2) phase 2 project. The IEM2 plant was placed into commercial operation on August 25, 2008. On September 19, 2008, the stockholders of MVC approved the creation of a landholding company which shall become the repository of all real estate properties of the company, and which shall allow additional foreign investments into MVC. On November 26, 2008, the landholding company under the corporate name of MVC Properties, Inc. was registered with the Securities and Exchange Commission. Source: SEC Form 17-A (2008)