SATECO AG, one of the world's leading manufacturers of high-precision silicone keypads and silicone sensors, is already planning of expanding in the Philippines even if its state-of-the-art manufacturing operations in Pampanga is yet to come on stream later this year, citing rosy investment prospects in the country, the Board of Investments (BOI) announced.
BOI Managing Head Ceferino Rodolfo, who is part of President Ferdinand R. Marcos Jr.’s trip to participate at the World Economic Forum in Davos, revealed the company’s “serious” plans to expand its Philippine operations after meeting with SATECO executives - Daniel Häfliger, CEO of Sateco Group; Kasimir Stadler, CFO; and Urs Stöckl, delegate of the Board of Directors of Sateco International AG.
“The company is very much upbeat on their manufacturing operations in the Philippines. They plan to finish the construction of its state-of-the-art plant by September 2023 and start production end of the year. They want to complement their operations in China to cater to North America and Japanese markets,” Rodolfo said after discussing the capabilities of SETACO’S state-of-the-art manufacturing facility in Pampanga and its future investment plans. He said that SATECO is interested to expand its advanced engineering operations in the country.
SATECO is headquartered in Schwerzenbach, Switzerland with operations in Germany, France, Japan, Czech Republic, Hong Kong, USA, and China. It supplies to big automotive players like Daimler, BMW, Tesla, Mitsubishi, among others.
The BOI assured the SATECO executives of the government’s full support in its future expansion plans, noting the strong economic relations between the Philippines and Switzerland and both countries’ efforts to further increase trade and investments.
SATECO is duly registered with the Philippine Economic Zone Authority under the name SATECO Philippines, Inc. in November 2022.
The company poured in an aggregate cost of P600 to P800 million for its state-of-the-art, high-performance production facility at the TECO Industrial Park in Pampanga, which also includes the production equipment and land lease expenses. The project which has two stages is set to employ a total of 300 to 400 workforce by 2024 for its production of high-precision silicone keypads and silicone sensors, providing systems and solutions to the automotive, building automation, consumer goods, and freight transport sectors.
In setting up shop in the country, Rodolfo said the company is banking on its confidence in the country’s business-friendly environment and the Filipino workers’ innate talents, skills, and can-do attitude.
As the Philippines is consistently moving toward the adoption of electric vehicles (EVs) in the country, Rodolfo said this can also further present opportunities for SATECO. Electric and next-generation vehicles, including their strategic parts and components such as automotive electronics, batteries, and charging systems are among the priority areas for investment support and incentives in the Philippines.
While in Switzerland, Rodolfo led a series of trade and investment meetings and promotion activities at sidelines of the 5th Philippine-Switzerland Joint Economic Commission Meeting hosted by the Swiss government held on Jan. 12 in Bern.