Thai Fiber Cement Manufacturer Shera Ventures into the Philippine Market with a P2 Billion Investment
Shera, a leading Thai fiber cement manufacturer, is making a significant entry into the Philippine market by establishing a P2 billion manufacturing facility in Mabalacat, Pampanga, marking its first venture outside Thailand.
Shera, renowned for its fiber cement products, has embarked on an ambitious expansion by investing P2 billion to set up its inaugural overseas manufacturing plant in Mabalacat, Pampanga, Philippines. Spread over 2 hectares, this plant will initially produce 100,000 metric tons of fiber cement annually, with provisions for future capacity increases. Initiated in 2023, the project is slated for completion within the year.
The establishment of this plant is anticipated to generate 120-150 employment opportunities, significantly contributing to the local economy. Thunnop Jumpasri, Executive Vice President of Shera, disclosed that the Philippines was selected for this strategic expansion due to the company's existing familiarity with the local market, where it achieved sales of P1.5 billion last year. Shera anticipates a growth rate of 5-10% in the future.
This venture aims not only to bolster Shera's market presence in the Philippines but also to introduce eco-friendly building solutions to a market increasingly leaning towards sustainable construction practices. The company seeks to tap into the robust government infrastructure development initiatives and the ongoing construction boom in the private sector, positioning itself as a key player in the Philippine building materials market.
Source
Bilyonaryo Business News - A premier source for business news in the Philippines, covering the latest trends and developments in the business landscape.
