Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Thursday it will expand production capacity by 25 percent in the first half of 2022 on increased demand from clients.
Cirtek said in a disclosure to the stock exchange semiconductor unit Cirtek Electronics Corp. started procuring additional equipment to support the surge in demand from customers.
It said that with the new orders obtained in the first quarter of 2021, its manufacturing capacity was already running at 100 percent. The acquisition of new equipment will initially hike capacity by an additional 25 percent, it said.
Cirtek senior vice president for marketing Tony Callueng said the company secured three new customers in early 2021 from major telecom players in Europe that would complement the company’s growth trajectory. “Due to the industry’s bullish outlook, supply chain backlogs and chip demand outpacing supply, customers have even started to consign equipment to Cirtek as insurance for production capacity on top of Cirtek’s own internal equipment,” the company said.
.jpg){kind=small}
