PHILIPS TO INVEST $400-M IN RP
Manila, Nov. 26, 1997 - Philips Semiconductors Philippines Inc., a subsidiary of Philips Electronics, will invest a total of $400 million (P14 billion) to establish an integrated circuits test and assembly plant in the nearby province of Laguna.
Ger Schonk, PSSPI senior vice president, said yesterday that the project will strengthen Philips' position as one of the largest semiconductor suppliers in the Philippines and the Asia-Pacific region.
The test and assembly plant will be situated inside the Light Industrial and /science Park II in Calamba, Laguna. When fully operational, it will create 2,000 jobs.
The Philips Group of Companies in the Philippines, which consists of Philips electronics and Lighting, Philips Semiconductors and Philips Industrial Development currently employs 3,700 workers.
Reported by: Sol Jose Vanzi
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