Seiko Epson Corporation of Tokyo plans to invest 12.3 billion yen ($1.2 billion) in its manufacturing subsidiary Epson Precision Philippines Inc. to construct a new plant for increasing inkjet printer and 3LCD projector production volumes.
The facilities will be constructed inside the existing site by the early part of 2017, with operations slated to begin in the spring of that year.
Epson plans to install a large solar power generation system with a capacity of approximately 3,000 kWh on the roof of the new plant. This system will reduce overall daytime electricity consumption at Epson Precision by half.
As it implements its mid-range business plan, Epson has determined that its current inkjet printer and projector manufacturing facilities in China, Indonesia and the Philippines are insufficient to meet expected demand. In inkjet printers, the company is forecasting the need to significantly boost production capacity for its core high-capacity ink tank models and also for office inkjets.
Epson also sees the need to increase projector production as it expands its lineup. With growing demand for projectors used in business and education, expanding commercial applications, and increasing penetration in emerging economies, Epson forecasts its growth will surpass that of the market.
Epson plans to increase the workforce of Epson Precision in the Philippine to approximately 20,000 from the current level of 12,500.