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MANILA - Isuzu Autoparts Manufacturing Corporation will make 100,000 more transmission units as demand for the Japanese firm's vehicles increases worldwide.
The Binan, Laguna-based firm, which is 100 percent owned by Isuzu Motors Limited Japan, ships 98 percent of its output to the auto maker's other assembly sites across Asia. Isuzu Autoparts receives fiscal and non-fiscal incentives from state-run Philippine Economic Zone Authority.
Isuzu Philippines Corporation, which may close down its DMax assembly business in the country by next year as it does not enjoy similar perks, is a separate business entity.
Arthur Balmadrid, IPC senior vice president for sales, said Isuzu Autparts looks at increasing its production of transmission units from 200,000 units to 300,000 by yearend as demand for their vehicles, especially in Southeast Asia, is increasing.
Isuzu - like Toyota, Mitsubishi and Honda - based its transmission factory in the Philippines during the early stages of the Asean Industrial Cooperation Scheme.
Under AICO, a participating company has to export a product out of any Asean country so it can enjoy perks like preferential tariff rates.
"Our Isuzu Autoparts manufacturing plant is expanding its capacity and facilities to be able to have an increase in volume. I think they are on track to meet that target," Balmadrid said.
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