Industrial News

THE Ayala-KTM partnership plans to export 80% of 12,000 motorcycles next year, Ayala Corp. Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala said. At the Trade department’s manufacturing summit on Thursday, Mr. Zobel said its partnership with the Austria-based KTM AG has so far produced over 23,000 units, exporting 62%. Majority of exports are sent to China. “We entered the motorcycle manufacturing business in 2015 in partnership with KTM,” he said. “In 2021, 80% of the factory’s production of over 12,000 motorcycles will be exported, with 21% to the ASEAN region.” The partnership running under Ayala’s automotive unit [...]

MANILA, Philippines — The Aboitiz Group, through Lima Land Inc., is expanding the Lima Estate in Batangas to meet the rising demand for industrial and commercial spaces. In a statement, the Aboitiz Group said Lima Land is developing 100 hectares of the existing 700-hectare property to accommodate more industrial locators. The 30-hectare business district would also be further transformed for new commercial lots, business process outsourcing companies, office buildings, dormitories, schools, hospitals, hotels and civic centers, in addition to existing components such as The Outlets at Lipa, Lima Exchange and Lima Park Hotel. The group aims to complete the expansion [...]

The country faces a perfect storm leading to prolonged economic pain. Yes, not a V-shaped recovery as a government spokesmen would like us to believe, but more like an L, with just a slightly elevated but elongated leg (the slight elevation coming more from base effects rather than real recovery). There are numerous factors causing the perfect storm. First is a highly political budget, more appropriate for elections rather than dealing with a still untamed pandemic and healing the economic scars of an extended lockdown. Hefty increases have been heaped on the Department of Transportation (DoTr) and Department of Public [...]

Manchester, NH, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in sensing and power semiconductor technology, announced today the pricing of its initial public offering of 25,000,000 shares of its common stock at a price to the public of $14.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALGM” on October 29, 2020. The gross proceeds of the offering, before deducting the underwriting discount and offering expenses, are expected to be $350.0 million. The offering is expected to close on November 2, 2020, subject [...]

SSDs have reduced in price to the point where even new games consoles will ship with one next month, but for massive amounts of affordable storage in your PC, mechanical hard drives still win. 18TB drives are already available, and Seagate is now promising to increase that to 50TB by 2026. The company said last month that it still intends to ship a 20TB HAMR hard drive before the end of 2020, and this was reiterated in a Q1 2021 earnings call last week. However, Seagate went a step further, with CEO Dave Mosley stating, "we believe HAMR technology will be the industry’s path to scaling areal density [...]

Asurion, a global tech care company handling round-the-clock tech support for phones and smart home devices, seeks to bring 1,200 full-time jobs in Iloilo City with the opening of its new customer service center at Iloilo Business Park in Mandurriao. “We are excited to expand our Philippines operations to Iloilo City, which will help us attract additional talent as the global demand for tech help continues to grow. We look forward to becoming a part of the Iloilo community,” said Gareth Boulton, Asurion Director of Care Operations in the Philippines. Asurion is expected to create more than 1,200 local full-time [...]

The Semiconductor and Electronics Industries in the Philippines Inc. said Tuesday the industry suffered $4 billion in losses during the peak of the community quarantine period from March to August, when the government moved contain the spread of COVID-19.SEIPI president Dan Lachica said while the industry was expecting a 5-percent growth for 2020, the pandemic resulted in a double-digit decline in sales. “We are in a 15-percent contraction,” he said.He said aside from the health-related problems, the pandemic caused issues on supply, production and delivery.Lachica said about $500 million of transferred volume might not be recovered at all. “That is [...]

VIA optronics’ Proposed Initial Public Offering in the US VIA optronics AG (the “Company” or “VIA”), a 76%-owned German subsidiary of Integrated Microelectronics, Inc. (“IMI”) and a leading supplier of enhanced display solutions, filed on 4 September 2020, a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its American Depositary Shares (“ADSs”) representing ordinary shares in the capital of the Company. The number of ordinary shares to be represented by each ADS, the number of ADS to be offered and the price range for the proposed offering have [...]

The umbrella group of Philippine electronics exporters is backing a call to exempt current investments in Philippine Economic Zone Authority-accredited economic zones from a tax bill that seeks to rationalize the fiscal incentives system, which is feared to increase the cost of doing business in the country. The exemption was proposed by Senate President Pro Tempore Ralph Recto, whose hometown of Lipa, Batangas, has tens of thousands of wor­kers employed by companies in economic zones. Danilo Lachica, president of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi), said this was “better” than having a transition period, which [...]

MANILA, Philippines — Two German electronics firms are shutting down operations in the country due to the uncompetitive business environment, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) said. SEIPI president Dan Lachica said in a statement yesterday one firm has shut down and another is set to halt operations, citing the current unfavorable business environment. He declined to name the firms but noted both are German companies. “The first to shut down manufactured electronic lighting equipment. The other, which will shut down next year, produces automotive electronics accessories,” he said in a Viber message. Both companies [...]