Japanese firm set to invest P392-Million in Subic Freeport

Japanese firm set to invest P392-Million in Subic Freeport



Count this as another vote of confidence in the Philippine as a suitable country to invest in the Asia Pacific region.
Japan has chosen Subic Freeport to be the site where they will invest PHP392.million  for their production of gear parts for industrial robots and specialty steel products for other companies here and abroad.

A steel plant  for gear parts for industrial robots and specialty steel products will soon rise in Subic (photo credit to owner)


Wilma Eisma, chairman and administrator of Subic Bay Metropolitan Authority (SBMA), said that Taiyo Subic Philippines Corporation, a subsidiary of Japanese integrated special steel trading firm Taiyo Shoji Co., Ltd., has leased a 6,200-square meter facility at the Subic Techno Park (STP) here for the construction of its own factory within this year.
“This only goes to show the continuing confidence among Japanese investor-companies in Subic,” Eisma said.
The new company will engage primarily in the import and export of of special steel materials and manufacturing of parts for use in the automobile industry, industrial machineries, plant machineries, and information technology.
“It plans to set up a manufacturing facility that will manufacture and supply specialized gear parts for industrial robots both in the Philippines and abroad,” she added.
According to its business plan, Taiyo Subic will import materials from Taiyo Japan and Daido Steel Co., one of the world’s largest specialty steel manufacturers, refine these materials, and thereafter, supply precision materials and gear parts to other companies here and abroad.
Specifically, Taiyo Subic will supply speed reducers for Subic Nidec, using the special materials and parts that were developed by Taiyo Japan and Daido Steel.
The Japanese company plans to supply Nidec Subic with 100,000 units of speed reducers per month by March 2020.





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Report from  PNA

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