Tamiya, a Japanese manufacturer with a subsidiary in the Philippines, is expanding its operations in Cebu by investing Php1.5 billion to build a new production plant.
The new facility will be built at the Cebu Light Industrial Park – Special Economic Zone and join Tamiya’s existing production facility that has been operating in Cebu since 1994. The existing facility yields $23 million in annual exports, with 65% of the goods headed to Japan followed by the US at 12%.
The Japanese manufacturer estimates a 5% rise in production output from the new facility within the first three years of operation, followed by 20% increments in the succeeding years.
Tamiya is mostly known among hobbyists for its model kits and radio-controlled cars. The company also regularly holds racing competitions with its Mini 4WDs, which are electric motor-powered toy cars that became tremendously popular in the Philippines in the 1990s.
Source: Manila Bulletin