Japanese firm to expand product line in Subic Freeport with P4.2B investment
SAN ANTONIO, Zambales — A Japanese company will invest P4.2 billion to expand its product line in Subic Bay Freeport, an official said Monday.
The Nidec Corporation’s new investment will involve the production of precision gearboxes that ensure smooth and efficient gear operation in a wide range of applications such as robotics, aerospace, and solar tracking.
According to Rolen Paulino, chair and administrator of the Subic Bay Metropolitan Authority (SBMA), Nidec’s expansion project in the freeport is among the 35 key deals inked during President Ferdinand Marcos Jr.’s visit to Japan.
“This new venture by Nidec Subic is a validation of the foreign investors’ strong confidence in the leadership of President Marcos and the Subic Bay Freeport, ” Paulino said in a statement.
Nidec Subic will initially hire 1,074 more workers for the expansion.
The company is the top global manufacturer of small precision motors, and has the largest market share in the world for spindle motors.
In 2019, Nidec Subic began its expansion program to produce industrial robotic gears, infusing US$250 million worth of investment and hiring 632 workers.
The SBMA recognized Nidec Subic as among the top 10 exporters last year, citing its export value totaling US$49.43 million. INQ
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