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| PGMA's Press Statement on Texas Instruments biggest single investments in the Philippines |
| Reception Hall Area, Malacaņang |
May 03, 2007 |
| Good morning,
ladies and gentlemen: We have just come from a meeting with the executives of Texas Instruments. And we are happy to announce one of the biggest single investments in our economic history, the expansion of Texas instruments in the Clark Freeport Zone in the amount of one billion U.S. dollars. The Clark assembly will cover eight hectares and will employ more than 3,000 workers. This will double the capacity of Texas Instruments in the Philippines, where their original plant is in the Baguio Economic Zone. Texas Instruments Philippines in Baguio continues to be one of Texas Instruments most sophisticated assembly and test sites. It conducts final assembly and testing of semiconductors of customers in the computer, the aerospace, the telecommunications and automotive industries in the United States, Asia, Europe and Japan. The new site in Clark will incorporate many of the leadership environmental design features that were first used by Texas Instruments in the United States at its newest semiconductor facility. And the Clark will not just be an expansion of the Baguio operations. There will be new and more sophisticated products being produced there as well. Our friends on Texas Instruments will make sure that Clark will become the most environmentally efficient assembly site in the world. We thank Texas Instruments for its continuing confidence in the Philippines. The competition for this investment was fierced among the different possible sites in Asia, all wanting Texas instruments to put their one billion dollars in their places. And we are thankful that Texas instruments finally chose the Philippines. We look at this event as a sure sign that the Philippines has found its niche as one of the best investment destinations in Asia. We are very proud that through strong international alliances, we have forged new partnerships that have led to billions in investments that helped create millions of new jobs and the latest big one is Texas Instruments. Thank you very much Texas Instruments. Thank you very much to the Filipino people who make the Philippines an attractive place to invest in. |