THE Philippine unit of TDK Corp., a Japanese electronic components and devices company has opened a second factory in Laguna TechnoPark, according to the Philippine Economic Zone Authority (PEZA).
In a statement on Thursday, PEZA said that the new plant, opened on Dec. 3, took in investment of P2.5 billion from TDK Philippines Corp. (TPC).
The new facility is expected to result in the hiring of more than 400 workers in the next three years.
“The new factory is expected to create hundreds of new opportunities for local talent, foster partnerships with small and medium enterprises, and enhance the Philippines’ global competitiveness,” PEZA Director General Tereso O. Panga said.
“With this expansion, TPC strengthens its role as a key driver of industrial growth — providing quality jobs, advancing technology, and contributing to sustainable development not only of the province but the entire nation,” he added.
TDK manufactures electronic parts and components and electronics and communication devices. It operates more than 250 manufacturing, research and development, and sales sites in over 30 countries.
Since its registration with PEZA in 1997, TPC has injected more than P12 billion of investment in its facilities in Laguna and Batangas and employed 5,000 staff.
In a separate statement, PEZA said that it signed a registration agreement with XRC Mall Developer, Inc.
This officially seals the proclamation of community mall Xentromall Antipolo as a special economic zone.
On Nov. 25, President Ferdinand R. Marcos, Jr. issued Proclamation No. 752, which designated the mall as a new PEZA-registered IT (information technology) center.
“XRC currently operates XentroMall Batangas and has plans to put up integrated and mixed-use ecozones in other locations in Luzon, contributing to PEZA’s goal of further strengthening the ecozone development program in the countryside,” PEZA said. — Justine Irish D. Tabile
