Tamiya to invest P2 billion for Cebu plant
Japanese toy car maker Tamiya is planning to expand its operations in the Philippines by building a new factory, pouring in billions of pesos worth of investments, the Department of Trade and Industry (DTI) said in a report by GMA News.
In a statement, the DTI said Tamiya’s chairman and president Shunsaku Tamiya confirmed the company’s decision to pour in fresh investments this year worth P2 billion towards a new facility inside the Cebu Light Industrial Park.
“Their new plant and building are sized at 22,579 and 30,765 square meters respectively, which will generate 300 additional job opportunities and increase output by 5% over three years and overall capacity by 20%,” the Trade department said.
It said that Tamiya’s annual production for export is currently valued at $30 million, 80% of which is produced in the Philippines.
The company is targeting to begin operations in the new factory located in the Philippines by September 2023, the DTI said.
Tamiya has only one production facility outside of Japan, which is located in the Philippines particularly in Mactan, Cebu.
Tamiya’s Mactan facility, which is 40,000 square meter facility with over 1,200 workers engaged in model assembly, is established in September 1994.
“The fact that Tamiya has been operating in the country for about 30 years and is now moving forward with expansion plans despite the challenges of the pandemic, is testament to the enabling environment that President Rodrigo Roa Duterte together with his economic managers have set up for foreign direct investors,” said Trade Secretary Ramon Lopez.
“We are proud that a company known to espouse a philosophy of “First in Quality Around the World” has entrusted our workers with such a huge responsibility. The quality, efficiency, and productivity of Filipino workers will always remain to be the Philippines’ best and most competitive resource,” added Lopez.
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