Raided steel company to cooperate in probe

SAN FERNANDO, Pampanga, Philippines  –  Officials of a steel manufacturing company shut down by authorities over alleged substandard products have committed to cooperate in the investigation that will be conducted into the firm’s operation.

The Chuangxing Steel Inc., whose plant in Magalang town in this province was recently raided by a joint team of the National Bureau of Investigation and the police, said it complied with Philippine laws and environmental regulations.

The raiding team arrested four company executives including three Chinese and a Filipino.

Authorities said the company’s products failed to meet Philippine standards, in violation of Republic Act 7394 or the Consumer Act of the Philippines.

Lawyer Ryan James Solano said Chuangxing Steel Inc. is a duly registered Philippine company with valid environmental compliance certificate and permits as well as other regulatory clearances.

“We respect the legal process, and we are confident that a careful examination of the evidence will show the company has operated in accordance with the law,” he said.