Japanese electronics giant hikes investment in RP unit

Japanese electronics giant Yamaichi is investing an additional P700 million in its local subsidiary, Pricon Micro-electronics Inc. to expand its manufacturing activity.

Yamaichi Electronics Co. Ltd. owns 80 percent of Pricon, while the remaining 20 percent is held by local investors.

Yamaichi Electronics is the world’s leading manufacturer of IC sockets and connectors, accounting for 33 percent of the world’s market for test and burn-in sockets for ICs.

Pricon at present only produces plastic molds and integrated circuit (IC) socket assemblies. With the additional investment, Pricon is set to go into the manufacture of printed circuit board assembly, semi-conductor socket and connector assembly.

All of Pricon’s production is earmarked for export.

In its application for registration with the Philippine Export Zone Authority (PEZA), Pricon set the timetable for the completion of the construction of its new plant by January 2003, while the arrival and installation of its new machinery and equipment is scheduled for August 2003.

Pricon, which is located at the Calmelray Industrial Park in Laguna, will start the commercial operations of its printed circuit board assembly in August next year.

Yamaichi has four manufacturing plants in Japan, one in the Philippines, one in China and another one in South Korea. For 2000 alone, its sales amounted to $289 million.