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The company acquired and modernized a second brewery in Polo
22nd June 2009
A new era dawned in the 1960s, signaled by a new corporate name (the company’s name was shortened to San Miguel Corporation), a new head office along Ayala Avenue in Makati and Soriano’s death in 1964.
At the time of his death, Soriano had parlayed his family’s vast San Miguel fortune into mining, dairies, factories, a newspaper and a radio station. He had investments in Philippine Airlines, held the largest Coca-Cola franchise, and owned five insurance agency distributorships, a Kansas City brewery that made Lone Star and Colt 45, gold mines in British East Africa and a development company in Spain.
Antonio Roxas was elected chairman of San Miguel and Andres Soriano, Jr. became president in 1964.
Soriano, Jr. has been credited with instituting modern management theory, including decentralization along product lines.
The Mandaue complex was inaugurated in 1967, and the Mandaue brewery and glass plant commenced operations a year later. In 1973, San Miguel sales exceeded a billion pesos for the first time and profits topped the hundred-million-peso mark.