Fire hits part of MVP-backed Axelum’s production facility in Misamis Oriental

Listed Axelum Resources Corp., the coconut products exporter partly owned by Manuel V. Pangilinan-led Metro Pacific Investments Corp., said a fire hit its Medina plant last Oct. 26, 2024, affecting only the building that houses parts and supplies.

The fire was contained and extinguished by 5:00 a.m., with no damage to the main production areas, a stock exchange filing on Monday showed.

“The cause of the fire and its possible effects on the operations and business of the company, if any, are still to be determined, and the company will update this disclosure accordingly,” said Axelum, a key supplier of coconut water company Vita Coco.

The Medina factory in Misamis Oriental is the company’s main production facility. The facility is scalable, allowing for flexible production of a wide variety of high-quality, food-grade coconut products.