Ayala plans expansion with Yamaha<\/p>\n
MANILA (AFP): Yamaha Corp. of Japan and the electronics
\nsubsidiary of Filipino conglomerate Ayala Corp. are planning a
\nUS$113 million expansion of a new tie-up and may form a joint
\nventure firm, the two companies said yesterday<\/p>\n
Yamaha and Ayala's wholly-owned subsidiary Integrated
\nMicroelectronics Inc. (IMI) inaugurated a 980 million-peso
\n($37.69 million) manufacturing facility outside Manila on
\nThursday for thin film heads and gimbal assemblies.<\/p>\n
IMI would build three additional plants with Yamaha providing
\nthe technology under a subcontracting arrangement, said IMI
\nPresident Francis Ferrer.<\/p>\n
The newly opened plant is expected to have annual sales of 270
\nmillion pesos. The additional investment would increase
\nproduction four-fold, he said.<\/p>\n
Production is to be exported to Japan, which Yamaha will
\ndistribute to major consumers. The products are hard disk
\ncomponents.<\/p>\n
The facility is Yamaha's first major investment outside Japan,
\nwhere it is under pressure from the appreciating yen.<\/p>\n
Yamaha managing director Kazukiyo Ishimura told reporters his
\ncompany was satisfied with the existing subcontracting
\narrangement with IMI, but that the two firms may form a joint
\nventure \"if need arises.\"<\/p>",
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"sponsor": "Okusi Associates",
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