Texas Instruments plans 2nd RP plant in Clark

(Update) Texas Instruments Inc., the world’s largest manufacturer of semiconductors, will be opening a $1-billion production plant in the Clark Freeport zone in Pampanga, President Gloria Macapagal Arroyo announced on Thursday. The Clark plant will be TI's second manufacturing site in the Philippines. The electronics manufacturing company has been operating a 25-hectare plant in Baguio City for more than two decades. This plant reportedly accounts for two-fifths of TI's total sales. TI's $1-billion outlay for the plant, which will be designed as the company's most environmentally efficient assembly site, will be spread over ten years. TI senior vice president Kevin Ritchie said they initially also considered setting up the plant in Vietnam, Thailand or China, but finally decided on a second Philippine plant because of the strength of their Baguio operations. "There are lot of factors site selection... But at the end of the day what brought us back to the Philippines is the performance of our Baguio site. Our Baguio site is one of our best sites," Ritchie said. Arroyo said this is the single-biggest investment the country has received this year. "We are thankful that TI finally chose the Philippines. This is a sure sign that the Philippines has found its niche as one of best investment destinations in Asia," Arroyo said. Trade and Industry Secretary Peter Favila, who was also at the press briefing, said the new plant in Clark will initially create 3,000 new jobs. He said however, that TI's new plant in Clark will likely attract other industry players, which will lead to even more jobs being created in the area. Ritchie said plant construction will start by August 2007 at the latest, and finish within 2008. He said the company expects production from the Clark plant to begin by late 2008. - GMANews.TV