Japanese firm invests add’l $37.3-M in Subic Freeport

Japanese manufacturing firm Juken Sangyo (Phils.) Corp. is expanding its manufacturing operations in the Subic Freeport with an additional investment of $37.3 million.

Juken Sangyo manufactures and trades multifaceted designs of plywood, laminated veneer lumber and other wooden products used for posh architectural undertakings for residential, commercial and industrial structures.

Juken Sangyo (Phils.) imports cultured logs from its subsidiary, Juken Nissho Ltd. which is based in New Zealand.

Juken Sangyo then processes the wood into excellent pieces of wood products.

Juken Sangyo recently entered into a long-term lease agreement with the Subic Bay Metropolitan Authority (SBMA) for an additional four hectares to expand its existing plant at the Subic Techno Park.

Juken Sangyo’s additional investment of $37.3 million will double its initial capitalization of $18 million.

Thus, in a span of a little more than a year, Juken Sangyo was able to increase its manpower requirement by about 70 percent, from an original requirement of just 174 workers to about 250 workers.

SBMA chairman Felicito Payumo welcomed Juken Sangyo’s expansion. According to Payumo, the Freeport was able to lure more Japanese investments with the support of the Japanese government which has committed to finance major infrastructure projects in the Freeport such as the Subic Port Development project and the Subic-Clark-Tarlac toll road.

Payumo said the continued interest of Japanese investors in Subic is a "definite manifestation of continued confidence by foreign investors." – Marianne Go