By Jenniffer B. Austria | Jan. 19,
2015 at 11:35pm [ manilastandardtoday.com ]
First Philippine Holdings Corp. of the
Lopez Group said Monday it won the 46.4-hectare Philtown Industrial Park in
Tanauan, Batangas in an auction conducted last month.
First Philippine Holdings said in a
disclosure to the stock exchange it was notified as the winning bidder for the
land, including the improvements, in the private bidding.
“This will be subject to the parties’
negotiations of, and the final agreement, on the transaction documents,” First
Philippine Holdings said.
The land is held by Brilliante Realty
Corp. while Mitsubishi Motors Philippines Corp. owns the improvements.
The bidding for the property was
earlier scheduled on Dec. 15.
The deal will enable First Philippine
Holdings to expand its industrial estate business. The company, in joint
venture with Sumitomo Corp. of Japan, owns First Philippine Industrial Park, a
450-hectare economic zone in Santo Tomas, Batangas.
First Philippine Holdings is a premier
industrial park hosting industry leading multinational companies in the
electronic and semiconductors manufacturing, solar cells and aircraft
components production, engineering plastics and metals, consumer goods
manufacturing and other technology-based sectors.
First Philippine Holdings in 2013
expanded the industrial estate by acquiring another 100 hectares due to
increasing demand for business parks from new foreign companies relocating
their operations in the Philippines and existing export-oriented firms that are
expanding current operations.
Aside from industrial estate
development, First Philippine is engaged in power generation, manufacturing
operations and real estate development. The company’s other activities consist
of pipeline service, construction, drilling and sale of merchandise.
The company’s subsidiaries and
affiliates include First Gen Corp., Energy Development Corp., First Philippine
Industrial Corp. and Rockwell Land Corp.
The company still has a 3.95-percent
interest in power retailer Manila Electric Co.
Two Japanese medical product
manufacturers are set to build factories in the First Philippine Industrial
Park as part of their expansion in the Philippines.
Tokai Medical Products and JMS Company
Ltd., through their Philippine subsidiaries, recently signed contracts for the
lease of areas within the economic zone in Batangas.
Tokai Medical Products Philippines
will turn its new plant in FPIP as platform for manufacturing medical catheters
for export to Japan and the US.
TMP’s plant will be the company’s
first outside Japan. The medical catheters, such as aortic catheters and
intra-aortic occlusion catheters, are products that assist heart disease
patients.
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