Electronics firm eyes new PH plant
Taiwanese electronics firm New Kinpo Group is looking at opening another plant here that will increase its local workforce to around 15,000, more than double its current number of workers.
Philippine Chamber of Commerce and Industry President George Barcelon told reporters on Thursday that he recently spoke with a company official who told him that New Kinpo was scouting for a new plant.
New Kinpo Group has three subsidiaries based in three respective plants here in the Philippines with a total workforce of 7,000.
Barcelon said the new plant, which would cover around 30 hectares, would add another 7,000 to 8,000 into the fold.
“They have three locations already. As of now, their workers are 7,000. They are putting up another plant. They are eyeing 30 hectares towards the south,” Barcelon said, hinting at Cavite.
“The cost of production in China is inching up. Their wages are increasing as well. With that in mind, they find the Philippines would be a good hub for them to expand the business,” he added.
The group opened its latest plant, operated by subsidiary Kinpo Electronics Philippines, Inc., more than two years ago in Batangas. Kinpo Electronics produces graphic calculators and printed circuit boards.
Subsidiary AcBel Polytech Inc., which established a factory here in 2000, manufactures light-emitting diode (LED) lighting and smart grid solutions. CalComp Electronics and Communications Co., a subsidiary that established a factory here in 2012, produces handsets, printers and liquid crystal display televisions.
Barcelon did not say the investment value of the upcoming expansion of the New Kinpo Group, described as one of the largest Taiwanese investors in the country.
When asked if the plan for the expansion was final, he said that it “looks like they’re decided.”
