Capitol Steel founder Han Sui Cheng.
Capitol Steel, a leading manufacturer of reinforcing steel bars in the Philippines, was founded by Han Sui Cheng in 1974. In 1953, he started working at International Steel Mill, later to be renamed Apollo Steel Mills Inc. rising to become General Manager and eventually the President. Capitol Steel (formerly Central Steel)– a sister company of Apollo Steel and a pioneer in the Steel Industry in 1950 together with Philippine Blooming Mills and Marcelo Steel– suffered a crippling strike in 1973. The owner, Mr. Johnny Cheng, who was also his boss moved to liquidate the money-losing venture. At that time, H. S. Cheng, who was taking up his PhD in Economics at the University of Santo Tomas proposed a turnaround business plan as part of his thesis. The owner proposed a joint venture arrangement instead and offered a majority share in the company. He remarked that better to be a partner in a profitable business than to be the sole owner of a losing business. The partnership proved to be successful. Two decades later, Mr. Johnny Cheng took over Apollo Steel and in exchange gave full ownership of Capitol Steel to H. S. Cheng.
Under the leadership of H. S. Cheng, Capitol Steel supplied major projects like the Magat Dam, one of the biggest infrastructure projects of its time in the 1970s. This was followed by other dams like the Pantabangan Dam, the Ipo Dam, the La Mesa Dam and others.
Capitol Steel was also one of the early adopters of ASTM A615 Grade 60, a high tensile grade used in high rise projects in the 1980s like the Citibank Tower in Makati among others.
During the traffic crisis of the 1990s, Capitol Steel supplied the fast track projects of the EDSA-Ortigas Interchange, the EDSA-Buendia flyover, the C5-Kalayaan Flyover, and the Katipunan Flyover. The manufacturing plant was also upgraded with European, Japanese, and Taiwanese technology.
During the 2000s, Capitol Steel worked together with Centre de Recherches Métallurgiques in Belgium to produce ASTM A706 Grade 75, a higher grade of high tensile steel. This was tested and applied in its own project, a 50,000 sqm high-rise Building in the Ortigas Central Business District. Working together with Sy-Squared, Capitol Steel was able to supply the steel for an office floor plate with long spans and more compact columns that resulted in very high floor area efficiency.
Presently, Capitol Steel, on its fourth decade, remains a solid partner in the construction and real estate industry. It is embarking on a major transformation to meet future challenges.
Contract signing for 500,000 mt rolling mill.
We are here because it is our choice. We are here because we can accomplish what we each cannot accomplish separately. Only by working together can we realize our potential. The greatest pleasure life has to offer is the satisfaction that flows from participating in a difficult and constructive undertaking. That in our pursuits, we do not forget the individual. We will be fair-minded and just in the treatment of each individual protecting his dignity, respecting his uniqueness and recognizing his needs.
We are here because we believe that we can make a contribution to society by providing steel of superior quality at a fair price. The value of our contribution to our nation’s progress will be measured by our growth and profitability. Our profitability is proof that we are needed. It is not an end in itself.
For every project that we supply, we are ensuring our nation’s progress. The dams, bridges, flyovers, ports, schools, hospitals, high-rise buildings are our legacy. Profitability ensures that we will continue to exist and to reward those who have devoted their time and energy to ensure our profitability in the first place. Reserves must be created for times of adversity, adventurous and competitive programs undertaken, adequate taxes paid, and mistakes paid for.
We are here because we have been entrusted with a serious responsibility of building an institution that will last beyond our lifetime. To exemplify what is to be the best in what we do. To this end, we will strive to develop our own initiative, competence, and common sense to increase our chance of success in the challenges that we face.
We believe strongly that we have earned the right to be where we are today and will always continue to strive to improve ourselves. We will be genuinely concerned if we discover that this trust has been violated or belittled by others or even by ourselves.
Lastly, we are here because we believe that we can make a difference.Back to top ↑