The Philippines remains an ideal investment destination for sustainable and innovation-driven manufacturing and services as it continues to attract more and more companies to grow their businesses in the country.
SATECO AG, one of the world’s leading manufacturers of high-precision silicone keypads and silicone sensors, supplying big automotive players like Daimler, BMW, Tesla, Mitsubishi, among others, recently met with Philippine government officials to discuss the capabilities of its state-of-the-art manufacturing facility in the Philippines and its future investment plans.
A Philippine delegation led by Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo was in Switzerland last week, for a series of trade and investment meetings and promotion activities at sidelines of the 5th Philippine-Switzerland Joint Economic Commission (JEC) Meeting hosted by the Swiss Government held on 12 January in Bern.
Banking on its confidence in the country’s business-friendly environment and the Filipino workers’ innate talents, skills, and can-do attitude, SATECO AG is making it happen in the Philippines as it recently set up shop in the country.
With headquarters based in Schwerzenbach, Switzerland with operations in Germany, France, Japan, Czech Republic, Hong Kong, USA, and China, the company was duly registered with the Philippine Economic Zone Authority (PEZA) under the name SATECO PHILIPPINES, INC. in November 2022.
The company poured in an aggregate cost of Php600 to 800 million for its state-of-the-art, high-performance production facility at the TECO Industrial Park in Pampanga, which also includes the production equipment and land lease expenses. The project which has two stages is set to employ a total of 300 to 400 workforce by 2024 for its production of high-precision silicone keypads and silicone sensors, providing systems and solutions to the automotive, building automation, consumer goods, and freight transport sectors.
Relatively new in the Philippine manufacturing industry, SATECO executives, Mr. Daniel Häfliger, CEO of Sateco Group, Mr. Kasimir Stadler, CFO and Mr. Urs Stöckl, Delegate of the Board of Directors of Sateco International AG discussed with Philippine government officials led by Undersecretary Rodolfo the company’s serious plans to further expand operations in the country, particularly its advanced engineering operations.
“The company is very much upbeat on their manufacturing operations in the Philippines. They plan to finish the construction of its state-of-the-art plant by September 2023 and start production end of the year. They want to complement their operations in Chinato cater to North America and Japanese markets,” said Undersecretary Rodolfo.
The BOI assured the SATECO executives of the government’s full support in its future expansion plans, noting the strong economic relations between the Philippines and Switzerland and both countries’ efforts to further increase trade and investments.
As the Philippines is consistently moving toward the adoption of electric vehicles (EVs) in the country, Undersecretary Rodolfo also said this can further present opportunities for SATECO.
Electric and next-generation vehicles, including their strategic parts and components such as automotive electronics, batteries, and charging systems are among the priority areas for investment support and incentives in the Philippines.
