Japanese tech giant Seiko Epson Corporation (SEC) recently announced it will invest 12.3 billion yen (about P4.5 billion) in manufacturing subsidiary Epson Precision Philippines Inc. (EPPI) to construct a new plant for increasing inkjet printer and 3LCD projector production volumes.
The state-of-the-art facilities will be constructed inside the existing site by the early part of 2017, with operations slated to begin in the spring of that year.
Epson plans to install a mega solar power generation system with a capacity of approximately 3,000 kWh on the roof of the new plant. This system will reduce overall daytime electricity consumption at Epson Precision Philippines by half.
As it implements its mid-range business plan, Epson has determined that its current inkjet printer and projector manufacturing facilities in China, Indonesia, and the Philippines are insufficient to meet expected demand.
In inkjet printers, the company is forecasting the need to significantly boost production capacity for its core high-capacity ink tank models, which are currently experiencing rapid growth, and also for office inkjets, which are beginning to make steady inroads into the market. Epson also sees the need to increase projector production as it expands its lineup.
?The ink tank system printers, for example, have become tremendously popular in the Philippines by providing the lowest running cost against any printer in the market that uses genuine inks,? said Toshimitsu Tanaka, president and country manager of Epson Philippines Corporation (EPC).
With growing demand for projectors used in business and education, expanding commercial applications, and increasing penetration in emerging economies, Epson forecasts its growth will surpass that of the market.
Epson plans to increase the workforce of Epson Precision Philippines to approximately 20,000 from the current 12,500 to respond to the planned increase in production.
The construction of this plant will have no material impact on Epson’s business results for the fiscal year ending March 2015.
?Epson?s investment in the Philippines is a testament to the great synergy of Japanese engineering and Filipino skill. It is our pleasure to work harmoniously with the Filipino people as well as provide world-class, high precision Epson products that can help enhance Filipino enterprise,? added Tanaka.