MANILA, Philippines – Japanese manufacturing firm Terumo Corp. will be transferring two of its factories in Europe to the Philippines, thereby expanding its existing multi-billion investment in the country.
Philippine Economic Zone Authority (PEZA) spokesman Elmer San Pascual told reporters that the new investments will be announced today during the celebration of Terumo’s 10th year in the Philippines.
San Pascual said Terumo chairman Takashi Watchi was invited by PEZA Director General Lilia B. de Lima to invest further in the Philippines.
This has led to the decision of the company to expand the product lines they are producing in the country as they move operations, one from Belgium and another from unspecified European country here.
San Pascual refused to say how much the new investments will be saying only that the new facilities will be producing medical equipment that is not being made by the company here.
“They are looking positively at the Philippines and they would like to invest here further,” De Lima said earlier.
De Lima said Terumo has been manufacturing injections and catheters here in the Philippines. She said they are looking at manufacturing more of the over 2,000 products of Terumo. Terumo is located in Biñan, Laguna.
Capitalized at P1.48 billion, the company is an affiliate of Terumo Corp. of Japan, whose products are marketed in over 150 countries. They are in North America, South America, Australia, the Middle East, Asia and Europe. –Ma. Elisa P. Osorio (The Philippine Star)
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