New firm to pour $3-M investment in Clark-A A +A
Wednesday, January 8, 2014
CLARK FREEPORT — The Clark Development Corporation (CDC) announced Wednesday that a new investor for 2014 will be pouring in an initial investment of $3 million for its manufacturing firm inside this Freeport.
CDC President Arthur P. Tugade and Joontaik Jang, president of Sambon Precision and Electronics Co. Ltd., signed the agreement recently.
Sambon is the first firm to sign a lease agreement with CDC this year.
Assistant Vice President for Marketing Evangeline Tejada said the firm is a manufacturer of electronic components, such as speakers, earphones and headphones, and is a supplier for companies manufacturing electronic equipment, such as JVC of Japan.
It has a $10-million investment in China with more than 2,000 workers, Tejada said, adding that the firm to be established in Clark is expected to hire 100 workers during its initial operation.
Tugade said it was former President Fidel V. Ramos who introduced him to the Sambon executives.
"I have some friends who want to put up a business in the Philippines," Tugade quoted the former President as telling him.
He said he assured the former President that after the introduction, he will do the rest.
Tejada, during an interview at the Clark in Action hosted by Sonny Lopez of CDC Public Relations Department, said Sambon chose Clark because of the zealousness of the CDC administration and the utmost hospitality in their no-nonsense business dealings.
Tajada also said during her interview that the "no-nonsense" business concept of Tugade is now showing fruit, as the business climate in Clark has improved during his one-year stint in CDC.
Sambon will be located along Claro M. Recto Highway at the commercial district in Clark. The firm will begin manufacturing audio components by July or August this year.
Published in the Sun.Star Pampanga newspaper on January 09, 2014.