VECO was founded in 1905 by a group of Cebu businessmen led by Messrs. M. Levering, A. Bryan, R. Landon and A. Pond.

[3] In 1929, Don Gabriel A. Daza, the then Supervising Engineer and Assistant General Manager of the Company, sought to expand VECO's business outside of the City of Cebu.

[3] In 1938, VECO had 10,000~ customers and owned subsidiary plants in: Bogo, Cebu; Dumaguete, Central Visayas; and Dipolog, Zamboanga.

[3] In the 1930s, with the success of Daza's expansion, VECO rewarded its employees by developed a company club house for the improved mind, health, living conditions and efficiency of its personnel.

Its amenities included a modern tennis court, bowling alley, library, gymnasium, billiards and ping-pong.

At present, VECO's franchise area covers the cities of Cebu, Mandaue, Talisay and Naga plus the municipalities of Consolacion, Liloan, Minglanilla and San Fernando.

A second, albeit smaller, full service center also opened in Talisay City in 2007 to attend to the needs of customers in the southern part of the franchise area.