Tungaloy Seimitsu inaugurated recently its wear-resistant tool facility at the Carmelray Industrial Park II Special Economic Zone in Calamba, Laguna.
Industry sources said the Singaporean Singapore firm decided to expand its manufacturing operations in the Philippines to cater to the demands of multinational semiconductors and electronics industries in the country as well as in the Asian region.
Tungaloy Seimitsu supplies PEZA-registered export enterprises such as Intel Philippines Mfg. Inc, Amkor Technology Philippines Inc. and Philips Semiconductor Phils. Inc which in turn export their products to Thailand, Indonesia and Malaysia.
Tungaloy Seimitsu is leasing a 1,243-square meter factory building on a 2,815-square meter lot from RBF Development Corp., a PEZA-registered enterprise.
Tungaloy, which is 99.99 percent Singaporean owned with a minimal 0.008 percent Filipino equity and a 0.002 percent Japanese share, has been registered with the Philippine Export
Zone Authority (PEZA) since March 2001.
Its production is intended for shipments to Thailand, Indonesia and Malaysia. Tungaloy expects an annual export earnings of $2.042 million.