MANILA, Philippines - On Semiconductor Philippines Inc. is investing a total of $8 million next year to purchase equipment and upgrade technology for production of new products at its plant in Cavite.
On Semiconductor president and general manager Sunil Banwari said in a telephone interview yesterday the investment would come in two phases.
The first phase, which would amount to $4.5 million, would be made in the first quarter of next year.
The second phase, which involves $3.5 million, is expected in the third quarter.
“The investment will be made to buy equipment for automotive products which we are not producing now,†Banwari said.
The firm is investing in production of automotive products amid sustained strong demand seen for such items.
Banwari said the investments would also be used to upgrade technology for other existing products.
“The technology expectation is always getting higher so we need to invest for better quality,†he said.
With investments to be made for new technology to be used, the firm will also be taking in new employees.
Banwari said the investments would involve hiring 20 to 30 employees. At present, the firm has 3,000 employees.
On Semiconductor is engaged in the manufacture of products such as IC surface mount packages as well as logic or analog test being used in consumer electronic products.