In 1979, pursuing the 100 year old tradition of German influence and involvement in the Philippines, Mr. Felicito C. Payumo and the late Mr. Jaime V. Ongpin, the driving forces of Engineering Equipment, Inc., together with Mr. Axel O. Schroeder, Managing Partner of Muenchmeyer, Petersen realized their vision to transfer modern European technology to the Philippines by incorporating their business relationship, which started in 1972, in the form of a joint venture company called MATEC (Maschinen & Technik, Inc.) using the synergy of the founders' expertise in the fields of industrial trading, engineering and construction.

From the onset, MATEC was the Philippine representative of Siemens AG until 1996 when Siemens decided due to the achieved order volume to establish their own company. During these 16 years of collaboration, MATEC's name became synonymous to that of Siemens in the fields of power generation, transmission, distribution and application and communication. With the reputation, expertise and training gained from this long relationship, MATEC has remained an active, reliable partner of the utility sector with its traditional lines for pumps of Klein, Schanzlin & Becker (KSB) and turbo couplings of Voith Turbo as well as provider of manpower through its shareholding in Trans Orient Overseas Contractors, Inc. (TOOC). Its current representation of world-renowned European manufacturers such as GHH Borsig, and VA TECH ELIN has strengthened its position in this field.
In the industrial sector, the investment in NI Corporation, a local switch-board manufacturer has enabled MATEC to pursue projects for locally engineered, fabricated and installed power distribution systems.

MATEC's activities in the communication sector got a new impetus when it acquired Philippine Electronic Industries, Inc. (PEI), a 50 year old trading company well known for the Tektronix line of electronic testing and measuring equipment.

While the Siemens representative, MATEC envisioned developments in the rail transportation business. This interest led to representations for railway components like Voith, Scharfenbergkupplung and Butzbacher Weichenbau (BWG).

With strong involvement in infrastructure projects, the representation of Waagner Biro for modular steel bridges became complementary to the transportation business.

MATEC's affiliation to MPC-Marine with their capabilities in ship designing as well as financing and the connection with new corporation partners like Peene-Werft and Voith Schneider led to its expertise in the maritime sector.

MATEC has been a recognized partner of the cement industry due to its 18 years of relationship with BMH-Claudius Peters AG (CPAG) as well as a wide range of agencies for cement plant component manufacturers such as Aumund, Kettenwerke Wickede-Ruhr, Venti-Oelde, Louise F–rdertechnik and others.

In 1989, the corporate interest of the partners in the company took opposite directions. EEI was in financial difficulties and wanted to divest its shares in the company; on the other hand MPC was on an expansion course and together with Filipino partners bought out EEI's interest in MATEC. The expansion program of the MPC Group of Companies led in 1997 to the acquisition of the German steel trading concern, Coutinho Caro + Co. (CCC), where in 1998 it consolidated all its trading activities. With this consolidation, MATEC officially became an affiliate of CCC.

Today after two decades of service to the Philippine industries, MATEC continues to live up to the vision of its founders as a reliable partner and source for modern technology in its chosen fields of endeavor.