Panasonic Manufacturing PHL to start Laguna facility construction by October – BusinessWorld Online
LISTED appliance producer and retailer Panasonic Manufacturing Philippines Corp. (PMPC) will start construction of a new factory building in Sta. Rosa, Laguna by October following a fire incident in December 2023 that destroyed its previous facility.
The new building is expected to be completed within two years from the start of construction, PMPC said in a regulatory filing on Thursday.
PMPC signed a building contract with Kujima Philippines Inc. for the project.
“There will be no negative impact of the execution and signing of the building contract by PMPC with Kujima Philippines on the company’s business and operations,” PMPC said.
PMPC’s washing machine and electric fan factory building at Laguna Technopark in Sta. Rosa was gutted by fire in December 2023.
The company said the building was fully demolished after its fire insurance claim was settled.
PMPC manufactures, imports, and distributes various appliances. Its primary products include refrigerators, air conditioners, and washing machines.
The company also offers electric fans, freezers, TV sets, digital audio-visual products, communications equipment, office automation equipment, cooling equipment, and various kitchen and home appliances.
PMPC shares declined by 8.72% or 64 centavos to P6.70 per share on Thursday. — Revin Mikhael D. Ochave