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Manila Bulletin devider Business devider The Stock Market devider Tycoon Eduardo Soriano, Anscor vice chairman, dies at 69

Tycoon Eduardo Soriano, Anscor vice chairman, dies at 69

Published Feb 18, 2025 12:28 am

Tycoon Eduardo J. Soriano, vice chairman and director of A. Soriano Corporation (Anscor), passed away on Feb. 17, 2025, at the age of 69.

"It is with deep sadness that we announce the passing of Mr. Eduardo J. Soriano, our vice chairman and director, today, Feb. 17, 2025," the company said in a disclosure to the Philippine Stock Exchange.

He served as a director of Anscor since May 21, 1980, and became vice chairman in 1990. He was the company’s treasurer from 1990 until his retirement in 2018.

Soriano was also the president of The Andres Soriano Foundation, Inc., and a director of Phelps Dodge International Philippines, Inc.

"Our chairman, Mr. Andres Soriano III, the board of directors, and the entire Anscor group of companies extend our deepest condolences to the family and loved ones of Mr. Eduardo J. Soriano. We are profoundly grateful for his invaluable contributions and service to Anscor," the company said.

Soriano also served as chairman of Anscor Holdings, Inc. (2012 to present) and as a director of Phelps Dodge Philippines Energy Products Corporation (1997 to present).

He graduated from the University of Pennsylvania in 1977 with a Bachelor of Science degree in economics, majoring in history.

In addition to his corporate roles, Soriano ran his dairy farm, Hacienda Macalauan, where he served as president and CEO.

Hacienda Macalauan, Inc. (HMI), a Philippine corporation registered with the Securities and Exchange Commission in 1995, operates a dairy farm and manufactures milk and related dairy products.

Founded by Soriano, who had been involved in the dairy industry since his family operated San Miguel Corporation and Magnolia Dairy, HMI began with a small number of Magnolia dairy cows and quickly expanded after acquiring and importing 100 Friesian Sahiwal cows from Australia.

In the late 1990s, HMI began dairy processing, initially producing liquid milk and cheeses such as kesong puti (white cheese), ricotta, and cottage cheese. These products were delivered daily by refrigerated vans to exclusive subdivisions and villages in Manila, earning the company the moniker "The Milkman."

Located in Calauan, Laguna, with a view of Mount Makiling, HMI's farm now encompasses several hectares of pasture land for its dairy herd, an automated milking parlor, and a technologically advanced dairy processing plant.

In early 2013, as part of a diversification strategy, HMI began planning to manufacture coconut products for export, particularly to the US and EU markets. This project initially arose as a way to utilize excess capacity in the existing dairy plant.
 

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Eduardo J. Soriano Andres Soriano III A. Soriano Corporation
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