EPSON TO SPEND $110M TO EXPAND PRINTER PLANT IN PHILIPINES

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Date: Wednesday March 9, 2011 08:20:41 am
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    EPSON TO SPEND $110M TO EXPAND PRINTER PLANT IN PHILIPINES

     MANILA, Philippines – Epson, a world leader in digital imaging and printing solutions, is expanding its existing printer manufacturing facility in Lipa, Batangas with investments of P4.5 billion to put up a new printer and projector manufacturing plant to serve the strong export market.Seiko Epson Corp., the parent company of Epson Philippines Corp., announced the new investments during yesterday’s press conference. The new plant will be constructed on land adjacent to the existing Epson Precision (Philippines) Inc. in Lipa, City, which is registered with Philippine Economic Zone Authority.“We are delighted to announce our plans for a new plant in the Philippines,” said Tadaaki Hagata, director of Seiko-Epson, and chief operating officer for Imaging Products Operations Segment.

    According to Hagata, total investments in this project is approximately $110 million, or P4.5 billion. By end of its fiscal year 2012, Epson’s employees will almost double to 6,000 from the current 3,700.Epson will construct the new plant next to an existing inkjet printer facility at Epson Precision (Philippines) Inc., located in Lipa City. Full-scale production at the new plant is scheduled to begin in October 2011.By fiscal year 2012 (ending March 31, 2013), Epson will ramp up production of projectors to an annual capacity of one million units and doubling the present annual inkjet printer capacity to approximately six million units.

    Both projectors and inject printers are core, high-potential markets for Epson. The projector market, in particular, has been growing as a result of increased applications in enterprise and education, and expanding demand in emerging economies.Taking advantage of the key high-temperature polysilicon TFT LCD panels that it manufactures in-house, Epson is keen to boost projector sales by strengthening its line-up of models for use in educational institutions and offices worldwide, and of high-brightness units in the 5,000 lumen and above class.Epson is also expecting to see growth in the inkjet printers for enterprise applications and emerging economies.

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