Consumer electronics manufacturing company Cal-Comp Technology (Philippines) Inc. said Tuesday it started the expansion of its manufacturing facility in Lipa City, Batangas as a part of its strategy to make Philippines its next manufacturing hub in Southeast Asia.
Cal-Comp said in a statement it began the construction of an additional 24,000-square-meter facility in Lima Technology Center which would be completed by the fourth quarter of 2019.
The expansion will provide about 3,000 new jobs to Filipinos.
The planned expansion is proceeding even after the company decided to defer its planned P6.77-billion initial public offering.
“Everything will continue as planned. We are on track in making the Philippines our next main manufacturing hub in Southeast Asia, and we will grow our capacity down the line to reach more customers here and across the globe,” Cal-Com chief executive Simon Shen said.
Cal-Comp Tech earlier this year announced the construction and development of phases 2 and 4 of its manufacturing complex at First Philippine Industrial Park Inc. in Sto. Tomas, Batangas where subsidiary Kinpo Electronics (Philippines) Inc. is located.
This will add approximately 48,000 square meters of space for manufacturing.
Cal-Comp Tech is the local subsidiary of global technology conglomerate New Kinpo Group.
NKG earlier said it aimed to double its workforce in the Philippines by 2020. Cal-Comp Tech employs around 10,000 employees in its two local plants.
NKG said that Cal-Comp Tech was set to hire 5,000 Filipinos in the next 12 to 18 months.
The company is also building up its research and development in the Philippines by increasing its local engineering division from over 140 engineers to nearly a thousand.
Cal-Comp is engaged in global electronic manufacturing services and original design manufacturing. It produces multiple product lines including external hard disk drives, TVs, all-in-one PCs, laser printers, smart home appliances, power supplies and other products.