After pouring in P600-P800 million for its production facility, SATECO AG is looking at increasing its investments in the Philippines, according to the Board of Investments (BOI).
SATECO AG, manufacturer of high-precision silicone keypads and silicone sensors, operates a production facility at the TECO Industrial Park in Pampanga (north of the capital Manila).
On the sidelines of the 5th Philippine-Switzerland Joint Economic Commission (JEC) Meeting hosted by the Swiss Government held in Bern, the BOI said SATECO AG has “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,” said BoI Managing Head and Trade Undersecretary Ceferino Rodolfo. “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 China to cater to North America and Japanese markets.”
SATECO AG’s facility in the country also includes 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.
With headquarters based in Schwerzenbach, Switzerland with operations in Germany, France, Japan, the Czech Republic, Hong Kong, the United States, and China, the company was duly registered with the Philippine Economic Zone Authority (PEZA) under the name SATECO PHILIPPINES, INC. in November 2022.
According to the BOI, 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.
In photo: Trade Undersecretary and BOI managing head Ceferino Rodolfo (right) met with Daniel Hafliger, Ph. D., CEO of SATECO Group (center), and Urs Stockl, delegate of the board of directors of SATECO International.