Epson to invest P4.5B in new Batangas plant

MANILA, Philippines –  Japan’s Epson said yesterday it will be investing P4.5 billion for a new projector and inkjet printer manufacturing plant in Lipa, Batangas.

In a press conference, Epson officials said the new facility will be built next to an existing inkjet printer facility. Full scale production at the new plant is scheduled to begin in October.

By the end of 2012, Epson will almost double its employment to 6,000 from 3,700. It said the new plant will play an important role in achieving this vision by providing the manufacturing capacity that will allow the firm to return to a growth path.

Likewise, Epson said that by 2012, the plant will be able to produce one million projectors yearly. The production of inkjet will be doubled to approximately six million units. Inkjet printers and projectors are the core business of Epson. 

The projector market has been growing as a result of the increased applications in enterprise and education, and expanding demand in emerging economies. Epson is keen to boost projector sales by strengthening its line-up of models for use in educational institutions and offices worldwide.

“We are delighted to announce our plans for a new plant in the Philippines,” said Tadaaki Hagata, a director at Japan-based parent Seiko-Epson.

“We took this decision because of the excellent and ongoing support we have received from PEZA (Philippine Economic Zone Authority) and other government authorities, and also because of the fantastic local labor force. Epson is confident that the new plant will help us better provide market-leading products and services to satisfy our customers worldwide.”

For her part, PEZA director general Lilia B. De Lima said that the plant expansion will be good for the economy because it will usher in new jobs.

 “We are indebted to Epson not only for creating more employment opportunities in the country but also for the transfer of technology to our countrymen as well as its further contribution to the export revenues of the Philippines,” De Lima said.