New Kinpo Group, a Taiwanese electronics manufacturing firm, is considering further expansion of their business here in the Philippines by setting up another plant – probably in Cavite – and increasing its total labor force to 15,000 workers.
New Kinpo Group currently has a workforce of 7,000 in three different plants for three subsidiaries in the country.
Philippine Chamber of Commerce and Industry President George Barcelon who met with Kinpo’s President and Chief Executive Officer Yong Shen, said the Taiwanese company is looking to increase their workforce to around 7,000 to 8,000 more by setting up another plant in the country.
“They engage in manufacturing electronics, they have a plant in Batangas, but they are planning on putting up another one, another plant around 30 hectares. That’s why they’re looking [for a location]. Most likely it would be in Cavite, or towards the south,” Barcelon was quoted in a Businessworld report telling reporters during a Manila business conference.
Barcelon also stated that “the cost of production in China is inching up. Their wages are increasing as well. With that in mind, they find the Philippines would be a good hub for them to expand the business.”
Kinpo Electronics produces graphic calculators and printed circuit boards. More than two years ago, Kinpo Electronics Philippines, Inc. built their latest plant in Batangas.
In year 2000, New Kinpo Group subsidiary AcBelPolytech Inc. established a factory in the country, that produces light-emitting diode (LED) lighting and smart grid solutions. In 2012, subsidiaries CalComp Electronics and Communications Co. established a factory that manufactures handsets, printers and liquid crystal display televisions.
New Kinpo Group is scheduled to visit the Philippines in late September to pursue their expansion plans.