Canon to build laser-printer factory in Philippines
Japanese high-tech giant Canon said Tuesday it would build a laser-printer factory in the Philippines in anticipation of strong growth in global demand.
Construction of the facility in Batangas would start in April next year with the plant scheduled to begin production a year later, Canon said in a statement.
"The expected increase in future demand for competitively priced laser printers has created a pressing need for Canon to secure necessary production capacity while making it possible for the company to respond in a flexible manner," it said.
The factory is expected to employ about 5,000 people by 2014, the company said, adding that the printer business was a central pillar of the firm alongside its other office products and cameras.
Canon said it chose the Philippines due to its ready labour supply and the fact that many workers were able to speak English.
The company Monday posted a solid full-year result despite the difficult global economic environment. Canon has two existing Philippines-based subsidiaries.
(c) 2012 AFP