6/14/2010
NEWS BRIEFS
Fastener Firm Expanding in the Philippines
Signs $30 million lease
Multi-Tek’s office & plant in Tainan,Taiwan.
A Taiwanese firm reportedly signed a $30 million contract for its expansion project in the Philippines.
Multi-Tek Fasteners Inc. Chairman Paul Chang signed the lease agreement in Taguig City, which calls for an investment of $12 million within the first year, the Sun Star Pampanga reports.
The expansion project is expected to employ as many as 1,500 workers by 2013.
Multi-Tek already operates a fastener plant in the Philippines, employing about 150 workers and generating $5 million in annual sales.
Founded in 1993, Multi-Tek handles manufacturing, rethreading, quality checking, repairing, surface treatment, repacking, and exporting screws, plugs, sockets, pipes, hubs, and other related products. The $20 million company achieved ISO 9002 certification in 1999, and is headquartered at NO.169,Lane 202, Chung Cheng West Road RC-717,Erh-Hang Tsun,Jen-Te Hsiang, Tainan Hsien Taiwan R.O.C. ©2010 GlobalFastenerNews.com
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