LMG Chemicals Corporation (LMG) was incorporated on April 20, 1970 to primarily engage in the manufacture and distribution of industrial chemicals. LMG's main product is Technical Grade Sulfuric Acid, which is a basic industrial chemical used by various basic industries. LMG manufactures oleum from sulfuric acid and produces sulfur flakes from molten sulfur. Both products are mainly used as inputs in the detergent manufacturing process. LMG also produces chemically pure sulfuric acid products used largely by the battery manufacturing companies. Users of LMG's products are mainly manufacturers of detergents, car batteries, food, beverage and water treatment chemicals. On October 23, 2007, LMG transferred its acid plant and tank farm properties to wholly-owned subsidiaries, Chemphil Manufacturing Corporation (formerly Chemphil Marketing Corporation) and LMG Land Development Corporation (LMG Landco), respectively, to consolidate the acid plant and tank farm operations into individual holding companies for better management and monitoring. In August 2008, LMG sold its entire shareholdings in LMG Landco to Chemoil Energy Philippines, Inc. and Chemoil Fuel Philippines, Inc. LMG owns 100% of CMC and 60% of Kemwater Phil. Corporation. Source: SEC Form 17-A (2008)