MANILA, NNA - Major Japanese optical glass maker Hoya Corp. will boost the production capacity of its lens plant in the Philippines by 40 percent to cash in on the rising demand for eyeglass lenses there.
Hoya will invest $15.77 million to raise the monthly production capacity of custom-made prescription lenses at the plant in the city of Tanauan, Batangas Province, to 1.2 million units from 850,000 units, a Hoya spokeswoman said.
New equipment will be installed as early as next month at the plant, which is owned by Hoya’s manufacturing subsidiary, EHS Lens Philippines Inc. (EHS Lens), she said. The plant currently has the capacity to produce 850,000 prescription lenses and 1.8 million mass-produced stock lenses every month. EHS Lens has a share of about 10 percent in the Philippine lens market.
With the new project, Hoya’s total investment in the plant will grow to $96.3 million since Hoya acquired EHS Lens in 2013.
According to Philippine media, the EHS Lens plant occupies a 3.4-hectare site, employs about 2,000 workers and supplies its products at home and abroad, with its exports mostly intended for corporate customers in the United States, Europe and Asia. The workforce will increase by 400-500 with the plant upgrade.