MANILA, Philippines – Japanese electronic firm Nidec Corp. is set to implement a $300 million (P13 billion) expansion program in the Philippines which is expected to create an additional 10,000 direct jobs, officials said yesterday.
Nidec Corp. manufactures small precision motors for various applications like computers, appliances and automobiles, electronic and optical components from cameras and other equipment, as well as machinery, including industrial robots. Nidec has factories, offices and research facilities in Japan, the US, Europe including the Philppines, Singapore, China, Taiwan and Vietnam.
Nidec Corp. chairman and chief executive officer Shinegobu Nagamori said the company decided to expand in the country due in part to the “sales skills” of Philippine Economic Zone Authority (PEZA) Director General Lilia de Lima.
NIDEC has an existing four plants in the country – three in Laguna and one in Subic.
NIDEC has already invested nearly P15 billion in the said plants that employ at total of 14,500 workers.
The company has invested nearly P15 billion in these plants that employ at total of 14,500 workers.
“They’re (NIDEC) going to double their capacity with $300 million or P13 billion and create 10,000 additional jobs. They are very happy with the labor standards of our workforce. They are willing to invest as much as $1 billion if there’s enough engineers and supply of raw materials,” Trade Secretary Jesli Lapus said. –Paolo Romero (The Philippine Star)
Invoke Article 33 of the ILO constitution
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