Matsushita Firm Invests P1 B More; to Make Compact Disk Drives

Article excerpt

Wholly-owned Japanese Kyushu Matsushita Electric Co. Ltd. (KME) is investing P1 billion over a five-year period for the manufacture of slim-type CDR/RW (rewritable compact disk) drives for notebook and slim desktop personal computers at Carmelray Industrial Park II in Calamba, Laguna.

The project was approved by the Philippine Economic Zone Authority entitling this exportoriented project to a package of government tax and fiscal incentives.

As a PEZA-registered enterprise, the firm is entitled to a tax and duty-free importation of capital equipment, a five percent tax on gross and income tax holiday.

According to the company's finance division chief Seiji Ikeda, the new project is in response to the rapidly expanding global demand for CD-R/RW drives as well as to strengthen the company's global competitiveness.

KME was credited as the developer of the world's first slim CD-R/RW drive which sales started in April last year.

Based on its plan, the new Philippine factory will provide a global production and supply network to better serve customers throughout the world.

The new production capacity of its local subsidiary Kyushu Matsushita Electric Corp. …