MANILA, Philippines - Japan’s Seiko Epson Corp. is investing ¥12.3 billion ($103 million) in the Philippines to construct a new plant in Batangas to expand its inkjet and LCD (liquid crystal display) projector production, amid expectations of higher demand.
According to Epson Precision (Philippines) Inc. the new plant covering 100,000-square meters would be constructed within the existing site of the company in Lipa.
Construction of the new site would begin in the early part of 2017, while operations are slated to begin in spring of the same year.
The construction of the new facility would also entail hiring new employees to increase the company’s workforce count to approximately 20,000 from the current 12,500.
The investment is being made as Epson’s current inkjet printer and projector manufacturing facilities in China, Indonesia and the Philippines are not sufficient to meet demand.
For inkjet printers, the company expects demand for its core high-capacity ink tank models and office inkjets.
The company likewise sees the need to increase projector production as it expands its lineup.
With growing demand for projectors used in business and education, expanding commercial applications, and increasing penetration in emerging economies, Epson forecasts its growth would surpass that of the market.
“This expansion is proof that Epson is becoming the brand of choice as we strive to consistently exceed our customers’ expectations. Our genuine ink tank system printers, for example, have become tremendously popular in the Philippines by providing the lowest running cost against any printer in the market that uses genuine inks,” Epson Philippines Corp. president Toshimitsu Tanaka said.
“Epson’s investment in the Philippines is a testament to the great synergy of Japanese engineering and Filipino skill. It is our pleasure to work harmoniously with the Filipino people as well as provide world-class, high precision Epson products that can help enhance Filipino enterprise,” he said further.
The Epson Group which is led by Seiko Epson Corp., has 94 companies around the world.
In the Philippines, Epson has an extensive network of 77 authorized service centers with more than 200 dealers and 800 shops across the country.