Epson Plans to Build New Plant in the Philippines

Seiko Epson Corporation announced it will invest 12.3 billion yen (USD102.63 million) in constructing a new plant for Epson Precision (Philippines) Inc. to improve inkjet printer and 3LCD projector production capacities. The company said the advanced facilities will be completed inside the current site by the early 2017 and will begin operations in the spring of 2017.

According to Epson, the company will install a mega solar power generation system with a capacity of approximately 3,000 kWh on the roof of the new plant, which will cut overall daytime electricity consumption by half.

In addition, Epson plans to increase the workforce at Epson Precision (Philippines) to about 20,000 from the current 12,500 to tally the increase in production.

Epson has determined that its present inkjet printer and projector production facilities in China, Indonesia and the Philippines are insufficient to meet increasing demand. In the inkjet sector, the company sees the need to increase production capacity for its core high-capacity ink tank models and also for office inkjets are growing to grasp the market.

The company claims the construction of the new plant will have no material impact on its business results for the fiscal year ending March 2015.