Splash reveals P294.8-M capex for 2012 

Personal care maker Splash Corp. on Tuesday disclosed that its board approved the company’s capital expenditure budget for the year.   In a statement to the Philippine Stock Exchange, Splash said its board approved a P294.8-million budget for the year.   Of the amount, P152.2 million will be allotted to flagship Splash, while P142.6 million will be for Splash Foods Corp.   Last October, Splash entered the food business by acquiring 80 percent of Barrio Fiesta Manufacturing Corp. for P472 million.   The transaction covered 5.28 million shares of Barrio Fiesta Manufacturing at P89.32 per share.   Splash said it plans to market meal essentials and food condiments for Filipinos here and abroad, adding that it aims to make Barrio Fiesta Manufacturing a "major player" in the food industry.   Splash also said that it would be using part of the cash it raised from its initial public offering for the acquisition.   Bonifacio E. Ongpauco Jr., chair and president of Barrio Fiesta Manufacturing, will stay on as company director.   Splash said that it plans to market meal essential and food condiments for Filipinos here and abroad. It added that it aims to make BFMC a "major player" in the food industry.   Barrio Fiesta Manufacturing was established and incorporated in 1987 to bottle, can, cure, and preserve foods such as bagoong, shrimp or fish sauce, vinegar and other Filipino food products. — CMA/VS, GMA News