EDC shuts down geothermal plants
By Amy R. Remo
ENERGY Development Corp. has temporarily shut down the 110-megawatt Bacon-Manito geothermal plants in Albay and Sorsogon, only days after they resumed operations.
ENERGY Development Corp. has temporarily shut down the 110-megawatt Bacon-Manito geothermal plants in Albay and Sorsogon, only days after they resumed operations.
About 1,000 workers will be affected by the closure in 2015 of Lexmark International Philippines Inc. (LIPI), an inkjet cartridge assembly plant operating at the Mactan Economic Zone II (MEZ II) in Lapu-Lapu City.
The news of the closure of the Ford assembly plant in the Philippines hit the motoring public and the local business community like an earthquake—sudden and seemingly without warning—a calamity amidst a surge in investor optimism. However, the signs were there months before: The American auto giant held the grand opening of its $450-million Thailand manufacturing plant in Rayong, Thailand, in May; Ford ended its local assembly of Mazda3 in January, while that of the Focus ended in June, leaving the Escape as the only vehicle being assembled at the Santa Rosa plant (But that, too, will end, as the last Escape to be assembled here rolls out in December 2012). The economies of scale, as well as supplier base, weren’t there for Ford.
