According to a recent report by Inquirer.net, the firm is set to invest an additional P40 billion into its Philippine manufacturing operations. The news was shared by the Department of Trade and Industry (DTI) just last week.
The report adds that the reason for Nidec’s latest infusion is the rising demand for a power system called the ‘harmonic system.’ According to the DTI, the additional investment is being made to increase the company’s local production capacity for wave gears by 50,000 per month.
To achieve this target, the company is setting up a new 35,000-square-foot manufacturing facility to go alongside the firm’s existing assets. What’s more, the report adds the investment will create 400 new job openings for Nidec.
“As robotic systems and automation-related technology are increasingly defining the configuration and operational systems of factories around the world, [the] DTI is grateful that Nidec has poured resources into training Filipino engineers to develop skills related to the production of precision motors and reducers,” DTI secretary Ramon Lopez said in a statement.
If things continue to go the company’s way, it’s likely this won’t be the last investment the Philippine manufacturing industry will see from Nidec. Cross your fingers, guys.
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