SUBIC BAY FREEPORT -- A Japanese steel company has committed to invest some PHP392.million in this premier freeport for the production of gear parts for industrial robots and specialty steel products for other companies here and abroad.
Wilma Eisma, chairman and administrator of Subic Bay Metropolitan Authority (SBMA), said on Monday that Taiyo Subic Philippines Corporation, a subsidiary of Japanese integrated special steel trading firm Taiyo Shoji Co., Ltd., has leased a 6,200-square meter facility at the Subic Techno Park (STP) here for the construction of its own factory within this year.
“This only goes to show the continuing confidence among Japanese investor-companies in Subic,” Eisma said.
She said the new company will engage in the business of importation and exportation of special steel materials and manufacturing of parts for use in the automobile industry, industrial machineries, plant machineries, and information technology.
“It plans to set up a manufacturing facility that will manufacture and supply specialized gear parts for industrial robots both in the Philippines and abroad,” she added.
According to its business plan, Taiyo Subic will import materials from Taiyo Japan and Daido Steel Co., one of the world’s largest specialty steel manufacturers, refine these materials, and thereafter, supply precision materials and gear parts to other companies here and abroad.
Specifically, Taiyo Subic will supply speed reducers for Subic Nidec, using the special materials and parts that were developed by Taiyo Japan and Daido Steel.
The firm plans to supply Nidec Subic with 100,000 units of speed reducers per month by March 2020.
Eisma said the entry of another Japanese manufacturer here heralds a resurgence of Japanese investments in this freeport.
Last January, Nidec Shimpo, a sister company of Nidec Subic, launched an entirely new product line for super-silent speed reducers that has not been manufactured elsewhere in the world.
This was followed in March by the opening of a research and product development facility by Japanese technology firm Sanyo Denki Philippines, Inc. also at the Subic Techno Park. (PNA)
