MANILA, Philippines — Consumer electronics giant Cal-Comp Technology (Philippines) Inc. continues to expand in the country despite deferring its initial public offering (IPO).
The company has started the expansion of its 140,000-square meter facility in Lima Technology Center in Lipa City, Batangas.
Toward this end, Cal-Comp has started the construction of an additional 24,000-square meter facility, which will be completed in the fourth quarter of 2019.
The company said the expansion would provide about 3,000 new jobs to Filipinos.
New Kinpo Group (NKG) and Cal-Comp Tech CEO Simon Shen said everything would continue as planned despite the deferment of the IPO.
“We are on track in making the Philippines our next main manufacturing hub in Southeast Asia, and we will grow our capacity down the line to reach more customers here and across the globe,” he said.
Earlier this year, Cal-Comp Tech announced the construction and development of Phases 2 and 4 of its First Philippine Industrial Park Inc. manufacturing complex in Sto. Tomas, Batangas where its subsidiary, Kinpo Electronics (Philippines) Inc. is located.
The expansion would add approximately 48,000 square meters of space for manufacturing.
Cal-Comp’s parent NKG aims to double its workforce in the Philippines by 2020 as the company’s local operations becomes NKG’s largest manufacturing hub in Southeast Asia.
At present, the company employs around 10,000 employees in its two local plants. NKG said that Cal-Comp Tech is set to hire 5,000 Filipinos in the next 12 to 18 months as it moves to expand its operations in the country.
The company is also building up its research and development in the Philippines by increasing its local engineering division from over 140 engineers to close to a thousand.
Cal-Comp is a a subsidiary of global technology conglomerate New Kinpo Group, which is engaged in global electronic manufacturing services and original design manufacturing.
It produces multiple product lines including external hard disk drives, TVs, all-in-one PCs, laser printers, smart home appliances, power supplies, 3D printers, innovative smart beauty mirrors, AI humanoid robots, and integrated circuits for cloud computing, among other products.