Puyat Steel Corporation was established in 1956. The company set-up the first galvanizing plant in the Philippines in answer to the need of the country for galvanized iron sheets to be used in construction, building and roofing materials. The pioneering efforts in sheet galvanizing establishment of Puyat Steel not only contributed to the industrialization program of the Philippine government but also saved the country's much needed foreign exchange. It was a dollar-saving industry which boosted the international dollar reserves of the country allowing the government to utilized the dollar savings in importing other necessary items for nation building. Puyat Steel's founder, Gonzalo Puyat received from the Philippine President Carlo P. Garcia in 1961 the Philippine Legion of Honor Award, for his achievement as Pioneer Industrialist. The highest award the government bestow on its citizen. The Puyat Steel division was managed and operated from 1956 upto 1980 by its managing director Eugenio J. Puyat, a son of Gonzalo Puyat. In 1976, Eugenio J. Puyat was elected chairman and president of Puyat Steel. When he died in 1980, Mrs Leoncia Puyat Reyes succeeded him as chairman and president and their nephew, former Congressman Jose G. Puyat, Jr. took over as President. Today, Puyat Steel continuous to be managed by the direct descendants of its founder. Heading the firm are Edgardo P. Reyes, Chairman, Aristeo G. Puyat, President and Eugenio R. Puyat II, Executive Vice President.