EMS Group set to bag $1.6bn investment
Filipino contract semiconductor player EMS is negotiating with three overseas investors to secure a huge cash injection.
In a press briefing at EMS' headquarters in Laguna Technopark, the firm said it was in discussions with undisclosed Japanese, American and European partners to tie up the investment. EMS said up to USD 180 million has already been invested and that the proposed new cash from the Japanese partner will be for high-value power integrated circuits (ICs) for automotives. The European partner will work with EMS on high-end consumer products, specifically for hair care.
EMS will now build a new factory at First Philippine Industrial Park (FPIP), which will house both production and research and development activities. The project is expected to generate 2,500 to 3,000 new jobs by 2026.
“These investments are projected to create up to 3,000 new jobs in the semiconductor projects alone, with the potential for double that number in the consumer product manufacturing deal,” said EMS Group CEO Perry Ferrer.
EMS Group was founded in 2004, and offers a wide range of contract assembly and packaging services. These include PCB assembly, R&D, prototyping and production planning, skills training and more.
