Incorporated on September 13, 1963, Steniel Manufacturing Corporation (STN) and its subsidiaries are engaged in the manufacture of industrial packaging materials, with revenues coming from the sale of corrugated boards and boxes. STN's other sources of revenues are derived from rental income from certain properties that are leased to third parties. On December 27, 2013, the Company sold its 100% ownership, equivalent to 9.25 million shares, in Steniel Mindanao Packaging Corporation. STN's current subsidiaries are Steniel Cavite Packaging Corporation and Treasure Packaging Corporation, which are located in Cavite and Cebu, respectively. Each of the operating subsidiaries is individually responsible for sales and marketing activities directed at their regional customers.