Known as Ionics II, the sale involves two parcels of land with an aggregate area of 5,914 square meters and the two-story concrete industrial building with a total floor area of 4,082 sqm.
The property was sold under a straight sale arrangement evidenced by two deeds of absolute sale, one in favor of Microwave Ventures Inc. for the land and the other in favor of Remec Manufacturing Philippines Inc. for the building. Both buyers operate a plant in the property adjoining Ionics II.
One of the leading publicly-listed technology firms, Ionics is also one of the country’s largest electronics contract manufacturers, with revenues driven by orders from its core electronics manufacturing service unit, the Singapore-listed Ionics EMS, and its other subsidiaries.
The company is also benefiting from the resurgent global economy, vigorous PC sales and strong business partnerships with major customers who are key global OEM (original equipment manufacturing) players in the electronics field. – Conrado Diaz Jr.