Epson to Invest 12.3 Billion Yen in Inkjet-Printer, Projector, and Smart-Glasses Manufacturing Facility
December 3, 2014 – Seiko Epson of Tokyo reports that it’ll invest 12.3 billion yen (approximately $103 million U.S.) in its manufacturing subsidiary Epson Precision (Philippines) Inc. to construct a new plant for increasing its production of inkjet printers and LCD projectors. The state-of-the-art facilities will be constructed inside the existing site by the early part of 2017, with operations slated to begin in the spring of that year.
Epson plans to install a mega solar power-generation system with a capacity of approximately 3,000 kWh on the roof of the new plant. It says this system will reduce overall daytime electricity consumption at the plant by half.
As it implements its mid-range business plan, Epson has determined that its current inkjet-printer and projector-manufacturing facilities in China, Indonesia, and the Philippines are insufficient to meet expected demand. With its inkjet printers, the company is forecasting the need to significantly boost production capacity for its core high-capacity ink-tank models, which it says are currently experiencing rapid growth, and also for office inkjets, which it says are beginning to make steady inroads into the market. Epson also sees the need to increase projector production as it expands its lineup. With growing demand for projectors used in business and education, expanding commercial applications, and increasing penetration in emerging economies, Epson forecasts its growth will surpass that of the market.
Epson plans to increase the workforce of Epson Precision (Philippines) to approximately 20,000 from the current 12,500 to respond to the planned increase in production.
The construction of this plant will have no material impact on Epson’s business results for the fiscal year ending March 2015.
Outline of new plant
|Subject of investment||Epson Precision (Philippines) Inc.|
|Address||Lima Technology Center, Lipa City, Batangas, 4217, Philippines|
|Investment amount||Approx. 12.3 billion yen by FY2016|
|Products manufactured||Inkjet printers, projectors, smart glasses|
|Planned start of operations||Spring 2017|
|Plant area||Approx. 100,000 m2|
Outline of Epson Precision (Philippines)
|Company name||Epson Precision (Philippines) Inc|
|Address||Lima Technology Center, Lipa City,Batangas, 4217, Philippines|
|Established||December 27, 1994|
|No. of employees||Approx. 12,500 (as of November 2014)|
|Land area||Approx. 230,000 m2|
|Plant area||Approx. 85,000 m2|