URC breaks ground for mega production plant in Batangas
GOKONGWEI-LED Universal Robina Corp. (URC) has broken ground for its new mega production plant in Malvar, Batangas, as part of expanding the company’s production capacity.
The construction will commence this year, with expansion expected to occur over a period of 10 to 15 years, the company said in a statement on Thursday.
URC President and Chief Executive Officer Irwin C. Lee said the Malvar plant will produce many of the company’s products to be introduced in the coming years.
Upon its completion, the Malvar plant will cover a 30.7-hectare area and will provide employment to approximately 3,000 workers, both directly and indirectly, the company said.
“The manufacturing lines to be installed in Malvar will incorporate design improvements that will further reduce material resource inputs, production wastage, labor efforts, and energy as well as water consumption,” Mr. Lee said.
“We look forward to doing our part in economic development and nation building by providing jobs to the residents of Malvar, and the rest of the country, with the full build-out of this manufacturing facility,” he also said.
On Thursday, URC shares climbed by 2.07% or P2.40 to P118.30 apiece. — Revin Mikhael D. Ochave
