MANILA, Philippines — Thailand-based fiber cement board maker SHERA Public Company Ltd is establishing a manufacturing plant in the Philippines, pouring P2 billion into a five-acre facility in Pampanga that is slated to be completed within this year.
Thunnop Jumpasri, SHERA country head in the Philippines, on Thursday said that construction has already begun last year at the site of the plant within the 250-hectare TECO Industrial Park.
“We have seen a lot of changes in the demand in the market for the construction industry and we’re seeing a big opportunity here in the Philippines,” Jumpasri told reporters on the sidelines of the World Building and Construction Exposition (Worldbex) at World Trade Center in Pasay City.
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Jumpasri said the Philippines is one of the countries in Southeast Asia whose construction industry is enjoying a high growth rate, making it compelling for them to set up here their first operations outside Thailand.
Last year, he said they had recorded P1.5 billion in revenues. This year, growth is projected at 10 percent to 15 percent.
To fill the manpower required for the facility, the company plans to hire 120 to 150 employees.
First overseas plant
The manufacturing facility will have the capacity to produce 200,000 metric tons (MT) of fiber cement board, he added. However, he expects only half of the volume to be produced during the first year of operation.
Jumpasri said they are the No.1 producer of fiber cement boards in Thailand currently, with total capacity of 1 million MT.
This venture in the Philippines is seen as part of an even bigger expansion in Asia.
“Before we have the operation in any country, we need to make sure that we understand the market first. And not only the market, we need to understand the need, the culture of the country ..,” said Jumpasri.
The fiber cement boards produced by SHERA are used as building materials for ceilings, floors and walls. INQ