Ynchausti y Compañia
| Private | |
| Industry | Ship chandler, sugar production, banking |
| Founded | 1816 |
| Founder | Jose Antonio de Ynchausti, Jose Joaquin de Ynchausti |
| Headquarters | Manila, Philippines |
|
Area served
|
Philippines, Spain |
Ynchausti y Compañia (also known as Ynchausti y Cia and YCO) was a prominent Philippine multi-national conglomerate prominently engaged in operations from 1816 to 1936. In 1936, the Ynchausti family completed the divestment of most of their corporate holdings with the intention of adopting a less visible business profile.
The company was founded, majority owned, and led by the Ynchausti family for the entirety of its operations. Their primary lines of business during operation included banking, shipping, sugar production and trade, two distilleries (alcohol production), abaca production and trade, insurance, and real estate. They also figured prominently in infrastructure development during the 19th century.
The company was likely the first Philippine-owned multi-national conglomerate and, as a result, is one of the Philippine's most storied and influential industrial groups in its history. At the height of its operations, the company maintained offices in Manila, Iloilo City, Hong Kong, Shanghai, Tokyo, New York and San Francisco. A number of the businesses whose beginnings involved Ynchausti y Compañia, or members of the Ynchausti family, remain active in the Philippines today.
One of the major Spanish trading companies of the 18th centuries was the Real Compañia Guipuzcoana de Caracas. This company began in operations in 1728 and lasted until 1785, when their royal charter was withdrawn. The company held the monopoly on trade between Spain and Venezuela, through various ports in Spain, the Basque Country, and Venezuela. Many of the owners were Basques, from the province of Gipuzkoa. In 1785, with the lapsing of its royal decree, the company was reformed by its owners into the Real Compañía de Filipinas.
With the formation of the Royal Company of the Philippines traders began making the journey to the Spanish colony. Concurrent with the influx of new traders and businessmen was the addition of foreign capital and expertise. For centuries the Philippines was a relatively sleepy colony; the 19th century saw a dramatic economic boom in the Philippines, driven in part by the Royal Company of the Philippines. Among the Basque traders was José Antonio de Ynchausti. He was a ship-owner and captain from Gipuzkoa who originally plied the trade waters between Spain and Venezuela. With his son, José Joaquín, he established a presence in the city of Manila. The first company, JJ Ynchausti y Compañía, was founded in 1816. Its primary line of business was ship chandlery, though it was also involved in general trade operations.
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Wikipedia