Department of Trade and Industry confirmed that a Japanese manufacturing company is investing PhP1.62-billion for its facility in First Philippine Industrial Park II in Santo Tomas, Batangas.
Undersecretary Ponciano C. Manalo Jr. said Thermos, world’s largest stainless steel vacuum flasks maker decided to put up its manufacturing plant in the country. The plant will be constructed in a 11,600-square meter of land in Batangas.
Thermos Philippines is under Taiyo Nippon Sanso which has existing businesses in the country. Ingasco, Inc., Pilipinas Total Gas, Inc., and Taiyo Nippon Sanso Philippines, Inc are all under Taiyo Nippon Sanso. Thermos Philippines will be working under Vacuumtech Philippines, Inc. registered in the Securities and Exchange Commission.
“Taiyo Nippon Sanso, the mother company of Thermos, has interests in steel, chemical, electronics, automobile, construction, shipbuilding, and food industries,” DTI said.
Construction will be started this month and is expected to be completed September next year. The plant is expected to start its operation December next year. Two thousand Filipinos are expected to be employed when the plant goes full operation.