28 May 2013

Lopez group eyes industrial park in Clark, Subic

MANILA - Lopez-led conglomerate First Philippine Holdings Corp says it is eyeing Clark and Subic to be the site of the next industrial park it is building.

This comes amid increasing demand from foreign manufacturers following the country's winning back-to-back investment grade ratings and improving infrastructure.

The Lopez group has already expanded its existing industrial park in Sto. Tomas, Batangas from 300 hectares to now a 450-hectare economic zone after it attracted 5 new locators - Japanese printer companies Canon and Brother, electronic components producer Murata, aircraft interior fabricator BE Aerospace, and Danish maker of hearing aids, Sonion.

That brings the number of locators in Sto Tomas industrial park to over 60, employing 40,000 and by 2014, up to 50,000.

But FPH CEO Federico Lopez said they're in talks with five more new locators, mostly Japanese, so that they'd need more room for them.

"There will be more suppliers/contractors coming in to be close to their main customers (like Canon, now a locator at First Phil Industrial Park)," Lopez told a media briefing after the company's annual stockholders meeting.

Industrial parks contribute about 15% to FPH's revenues. (ABS-CBN news)