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Epson Marks Opening of New Factory, President Aquino Bears Witness

Epson Completes Factory in Lipa, Batangas

LIPA, BATANGAS - Epson Precision Philippines Inc. (EPPI) held a ceremony today to celebrate the opening of a new US$110 million factory (“Factory 2”) in the city of Lipa, in Batangas province.

The new factory is the largest expansion in Epson Precision (Philippines) Inc’s history and will significantly increase Epson's 3LCD projector and inkjet printer manufacturing capacity. This expansion is also expected to create 2,000 more jobs and boost the Lipa economy.

EPPI is among the manufacturing subsidiaries of Seiko Epson Corporation in the Philippines. Seiko-Epson has also invested in a sales and marketing office, Epson Philippines Corporation, in the country.

The event led by Seiko-Epson President Minoru Usui and EPPI Managing Director Tadaaki Hagata welcomed local suppliers, as well as dignitaries from the government of the Philippines, including President Benigno S. Aquino III and Lilia de Lima, Director-General of PEZA. Also attending was the Japanese ambassador to the Philippines, Toshinao Urabe.

Thanking Epson Precision (Philippines) Inc for the new factory, President Benigno Aquino III said: “By expressing their confidence in the Philippines, Epson Precision (Philippines) Inc has shown that they believe our principles in governance will have concrete, long-term benefits for our country."

Epson Precision (Philippines) Inc’s Factory 2 construction, which began in October 2010, was completed this September, on schedule. The plant is already in operation.

Needs Prompted Construction Of New Factory

Epson decided to augment its 3LCD projector and inkjet printer manufacturing capacity by adding a second plant to the existing facilities and infrastructure at Epson Precision (Philippines), where the company already has an entrenched workforce with outstanding technical expertise. This move was made in response to the outlook for projector and printer demand.

The projector market is expected to grow significantly, with growth fueled primarily by expanding applications in business and education and swelling demand in emerging markets. Epson is keen to capture this demand and boost projector sales by taking advantage of the strengths of the high-temperature polysilicon TFT panels that it manufactures in-house, by strengthening its lineup of models for use in education and offices, and by stepping up its efforts to expand in the ultra-big-screen market.

Epson also anticipates growth in inkjet printer for enterprise and in emerging markets. The company is looking to increase its inkjet sales by bolstering its lineup of printers with models that offer convenience that exceeds the vision of its customers.

Factory 2

Factory 2, built on land adjacent to the existing plant (Factory 1), will increase the projector production capacity of Epson Precision (Philippines) to about one-million units per year by the end of March 2012. Moreover, the plant is expected to have increased its annual inkjet printer production capacity to about six million units, or double its current capacity, by March 31, 2012. Total investment in this project by that time will amount to approximately US$110 million, while the workforce will grow from the current headcount of about 6,000 to approximately 8,000.

Commenting on the new factory, Minoru Usui, president of Seiko-Epson, said, “Epson Precision (Philippines) Inc is the Epson Group’s first projector manufacturing facility outside of China. Given the expectations for projector business growth, we see the Lipa Factory as a lynchpin in Epson’s future growth plans. Epson is committed to shipping customer-satisfying products from our factories here in the Philippines to our customers throughout the world. At the same time, we are equally committed to contributing to the economic prosperity and people of the Philippines.”

In his address, Tadaaki Hagata, chief operating officer of Epson's Imaging Products Operations Segment, said, “As a key site for manufacturing Epson's bread-and-butter inkjet and projector products, Epson Precision (Philippines) will play a vital role in the growth of our company. Together with the excellent employees of the Epson Precision (Philippines) Inc., I will do everything in my power to further develop and make this factory the No. 1 factory in the world. Epson will also strive to contribute more to the friendship between the Philippines and Japan, and to the economic development of our nations.

Epson has positioned printers and projectors as core growth businesses in its SE15 Long-Range Corporate Vision. The new plant in the Philippines will play an important role in achieving this vision by providing the manufacturing capacity that will allow Epson to return to a growth path by helping the company to supply high-quality products to its customers.

Factory 2 Profile

Site: Epson Precision (Philippines) Inc. (EPPI)
Address: Lima Technology Center, Lipa, Batangas, 4217, Philippines
Investment: Approximately USD 110 million by FY2012 (for buildings, machinery, equipment, molds, etc.)
Manufactured Products: 3LCD projectors and inkjet printers
Start of Operations: October 2011
Floor Area: Approximately 38,000 m2

EPPI Profile

Name: Epson Precision (Philippines) Inc.
Lipa Plant Address: (inkjet printer and 3LCD projector production)
Lima Technology Center, Lipa City, Batangas, 4217, Philippines
Laguna Plant Address: Lot 1, Blk. 3, Phase 5, Ampere St. Light Industry and Science Park 1, Bo. Diezmo, Cabuyao, Laguna, 4025, Philippines
President: Osamu Koshiishi
Established: December 27, 1994
Employees: Approximately 6,000
Total Area: 173,200 m2 (Lot), 82,385 m2 (Buildings)
Area in Lipa: 130,000 m2 (Lot), 74,000 m2 (Buildings)
Ownership: Wholly-owned subsidiary of Seiko Epson Corporation

For more information on Epson Philippines, visit www.epson.com.ph.

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