Perez Bros 55 Years of History!
Frank D. Perez & Bros., Co. was founded by Frank D. Perez in September 1951, as a retailer of residential electrical products such as wire, switches, and fuses. Its first place of business was in front of his mother-in-law's residence adjacent to the old legislature building parking lot. In 1952 the company set up its first manual Block Plant in Tamuning where LBJ Elementary is currently at. Its first quarry was adjacent to the block plant to arrive at greater economy of operations. By 1954 FDP built the first private subdivision and sold units through Federal Housing Authority (FHA), a federal residential financing agency he sought out to ensure its success. In 1955 construction of the most prominent building on Guam, the Dulce Nombre de Maria Cathedral-Basilica, began and was completed in 1958. In 1959 an automated Block, Batch and Crusher Plants were operating on what is now Guam Greyhound Race Track
In 1962 he relocated his hardware store and construction department to larger location north of the Baptist Cemetery in East Agana thus completing the Company’s second major expansion program.
In January 1960 the company was incorporated and became Perez Bros., Inc. Within two (2) years it opened its larger 12,000 square feet hardware store in the ground floor of a two story Agana building. The ground floor housed the hardware store while the 2nd floor held office space for rent. Immediately behind the building was the Company's U-shaped warehouse of over 20,000 square feet. This completed the Company's third major expansion programs FDP acquired earlier.
During the early 70's, the 3rd major expansion program was put into effect. With the acquisition of the Fadian site, PBI brought in a new Barber Green Asphalt plant, a new Telsmith Crusher Plant, a fleet of Dump Trucks, Mixers and Paving equipment. Armed with these plants and equipment, PBI entered the horizontal side of the construction industry. This new division produced, transported and laid hot asphalt concrete mix. We bid and successfully completed portions of Routes 1, 2 and 14 plus several village streets. We also reconstructed the entire length of route 16. Unfortunately, the energy crisis during this decade created a double-digit superficial increase in construction prices world-wide. This unanticipated cost overview drained the company of much needed resources to complete projects profitably. This ended the Asphalt Plant and all its related operations in 1982.
The 80's were a period of operational and financial reorganization for Perez Bros., Inc. In 1981 the construction department was shut down followed by the Agana hardware store within 2 years. Fortunately the growing tourism industry demanded more hotels which directly led to a major hotel construction boom. Alerted by increasing sales revenues, Perez Bros., Inc. was quick to take advantage of the boom and marshalled its profits into strengthening and consolidating its core businesses, specifically, Ready-mix Concrete, Concrete Masonry Units, and Crushed Aggregates. The core businesses were then, as now, vertically integrated, which further allowed Perez Bros., Inc to grow and prosper. All corporate milestones were achieved with an all local work force.
The 90's allowed the company to concentrate on improving its market share of the business plus add a few but significant accomplishments. Foremost, a 28 meter high rise concrete placing boom was brought in to accelerate the concreting schedule of the 320 foot PIC Tower III. On a completely different project the company placed concrete at an ocean depth of 170 feet.
Today Perez Bros., Inc. is well poised to continue upgrading its center and/or to diversify into other industries for the millennium thanks to its managers and employees. With the combined experience and proven teamwork of key personnel, Perez Bros., Inc. is in a sound position to continue its steady growth and consolidate a strong position in the marketplace.