Good News for the Philippines as a new source of big ticket investment
is coming in from Japan.
A known world leader in the production of motors as seen in automobiles,
hard disk drives, and consumer and industrial gears, Nidec, is investing Php40
billion in a new facility that will boost its exports to major markets, like
the United States and the European Union.
As per the Department of Trade of Industry (DTI) made a forecast that
the expansion will take place in the 3rd quarter of this year.
(photo credit to owner)
Following large demand in the global market, the expanded project
centers around “strain wave gears” with the intent of enhancing output by
50,000 units per month. For a combined total of 80,000 units per month, the
massive volume will be distributed across Brazil, China, India, and Korea, in addition
to the US and EU, which will then be used for the generation of an electric
power system called “harmonic system.”
Spanning a land area of more than 35,000 square
feet, the new facility will complement the company’s existing 3.5-hectare
production space. Consequently, an additional 400 new jobs were created as a
result of the upgrade, effectively bringing Nidec’s overall employees to 1,000
people.
A company that has been in operation in the Philippines since
1995 through two factories (one in Laguna and another in Subic), Nidec has been
making a broader reach to high-tech gears that are used in robotics, aerospace,
and solar tracking industries. Before this move, the Japanese firm was mainly
devoted to the creation of spindle motors used in hard disk drives.
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Report from PDI
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