Samsung relocates plants

Fri, 25 May 2001 | Source: DJ

MANILA (Dow Jones): South Korea's Samsung Electronics Co. Ltd. is relocating some of its optical disk drive production to the Philippines as part of a strategy to cut costs.

Samsung Philippines Vice President Maeng Dai Bae told reporters Wednesday the electronics giant will shift to Philippines the manufacturing of optical disk drives for both CD- ROMs and DVD-ROMs from its plants in South Korea and Indonesia.

He said the additional production will increase the total output value of Samsung's Philippine facility, located near Manila, to $1 billion within three years, making the country one of the company's top production bases in the world.

Samsung already invested this year 1.9 billion pesos to build a second factory at its 1.8-hectare complex in Calamba town to make CD re-writable disk drives. This project is expected to generate 1,141 new jobs and exports worth $709 million a year.

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