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PHILIPPINE-based Integrated Microelectronics Inc. (IMI),
a leading electronics-manufacturing service provider, is
eyeing new countries as sites for a planned expansion
next year.
At the
sidelines of the 6th Management Association of the
Philippines International CEO Conference on Wednesday,
president and chief executive Arthur R. Tan said they
are looking at new locations abroad to host another
manufacturing facility.
“We are
considering another location abroad. That is something
we need to do next year,” he said, without mentioning a
specific country.
Asked if
IMI was considering
Vietnam,
Tan said, “It continues to be in our horizon, but we are
delaying the plan because there are no industrial parks
available at this time.”
Apart
from expanding abroad, he said there is also a
requirement to expand its domestic operations.
IMI has
manufacturing plants in the Philippines, the US, China
and Singapore.
By 2011,
Tan said, the goal is to become a $1-billion company.
This
year IMI expects revenues to go over $400 million from
$393 million a year earlier as volume orders from
customers continue to increase.
The
company manufactures a wide range of products, such as
optical drives, liquid-crystal displays, hard-disk drive
subassemblies and power electronics for printers for
original equipment manufacturers worldwide. These
products could be found in many electronic devices, such
as personal computers, mobile phones, DVD players,
barcode readers and even electronic toothbrushes.
Meanwhile, Tan said the company will reevaluate plans of
listing its shares at the local stock exchange by way of
introduction.
“I
thought we were going to do that this year but we are
trying to revisit that right now,” he said.
IMI
earlier favored listing by way of intro over public
offering as it doesn’t see the need to tap the capital
market for funds.
“We
felt, though, that it would at least give a vehicle for
any strategic investor that we may want to consider,”
Tan said. |
