Kinpo Electronics (Philippines) Inc., a subsidiary of Taiwan’s New Kinpo Group of Companies, said Tuesday its P1.4-billion factory in Batangas is set to start operations next month.
New Kinpo chief executive Simon Shen said the new factory would serve as the production base of consumer electronic products, such as calculators and electronic keyboard for a known Japanese brand.
The Taiwanese firm also plans to invest another $31 million for the facility’s expansion in 2015, to support not only business goals but to generate more employment that could lead to the hiring of up to 6,000 new workers.
Kinpo Electronics said with the new investments, it expected to contribute around 10 percent to 30 percent to its mother unit’s total revenues this year.
The Trade Department said the country was taking part in Taiwan’s progress as a major supply chain source of industries in the region. Taiwan is currently one of the Philippine’s top trading partners and investment sources.
Kinpo Electronics set up and operated factories in the Philippines, through the assistance of the Trade Department, Philippine Trade and Investment Center in Taipei and Philippine Economic Zone Authority.
New Kinpo Group’s previous investments in the Philippines included investments by subsidiaries AcBel Polytech Inc. for the production of light-emitting diode lighting and smart grid solutions and CalComp Electronics and Communications Co. for the production of handsets, printers and liquid-crystal-display televisions.
New Kinpo Group is a leading global original design manufacturer and electronics manufacturing services partner. It has 96,000 employees worldwide in over 23 subsidiaries, of which seven are publicly listed corporations. New Kinpo is one of the major subsidiaries of the Kinpo Group.
The group produces a wide range of consumer electronics products such calculators, printers, 3D printers, external hard disc drives, modems and motherboards for brands such as HP, Toshiba, Western Digital and Casio.