National Steel Corporation (Philippines)

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Iligan Integrated Steel Mills, Inc. (IISMI) 1962-1974 [Private]
HeadquartersIligan City, Philippines
ProductsSteel, flat steel products, long steel products, wire products, plates

The IISMI was the first integrated steel mill to be built in Southeast Asia.In 1962, NASSCO was completely sold to the Jacinto family. The Macapagal government guaranteed the Eximbank loan of $62.3 million, plus a peso loan of P30 million (Henares, 2006). On September 21, 1972, martial law was declared, and on October 14, Marcos directed to take over IISMI (LOI 27). This time Marcos extended the assistance he denied the Jacintos: tariff protection (PD 34, dated October 29). Unfortunately, even though the corporate name included “Integrated”, IISMI was nowhere backward integration.

The National Steel Corporation or NSC (1951 – 2004) was a Filipino steel-making company, the largest in the Philippines. It had headquarters in, Iligan City, in the Philippines. The company was founded as National Shipyards & Steel Corporation in 1951. It was sold in 1962 to Jacinto & Son, a private Filipino company, and was later renamed Iligan Integrated Steel Mills.