Integrated Micro-Electronics Opens Chengdu Factory

Integrated Micro-Electronics Inc. (IMI) of the Ayala Group announced the official opening of its new factory in Chengdu, Sichuan Province in southwestern China.

Members of IMI’s board of directors and management committee, led by chairman Jaime Augusto Zobel de Ayala, president Arthur Tan, and board member Gerardo Ablaza Jr., attended the event graced the inauguration ceremony held on April 9, 2010, at the factory in Xindu District’s Muwei Industrial Park

Ayala said, “IMI’s expansion to Chengdu is part of our strategy to bring IMI’s services closer to OEMs which increasingly require greater capacity in China to supply a large domestic market as well as to manufacture for export markets. We believe China will remain at the center of the global electronics manufacturing industry and will be a significant driver of the world economy as it regains its growth momentum. Having this strategic position in the region will allow us to capture a greater share of volume orders as demand turns in step with the economic cycle.”

The Chengdu factory is the sixth IMI’s manufacturing site in China. The other plants of IMI are located in Shenzhen (in Liantang, Kuichong, Fuyong); Jiaxing; and Chongqing.

Tan said, “We were invited by one of our key customers to support their new plant in Chengdu. We also have OEM customers based in Chengdu that are currently serviced by our plant in Chongqing, which is also located in southwestern China. With our new plant in Chengdu, we can offer to bring our expertise nearer to them.”

Tan added that IMI also considered the steadily rising costs of manufacturing and labor supply shortages in the coastal regions in its further expansion into southwestern China. “Southwestern China’s manufacturing costs are more competitive compared to those in the coastal cities. It also has the largest
pool of migrant workers. Because of this, the move into the central regions by OEMs and their EMS partners has gained momentum.”

IMI’s 7,500-sq m Chengdu plant offers a wide variety of electronics manufacturing solutions, from printed circuit board assembly to full product assembly for OEMs in various markets such as those in the industrial, automotive, medical, and telecommunications infrastructure industries. Contract design services are also offered to OEMs in collaboration with IMI’s design and engineering centers in
Shenzhen, Singapore, the Philippines, and the United States.

Integrated Micro-Electronics Inc. (IMI) is a leading electronics manufacturing services (EMS) and provider to the world’s key original equipment manufacturers (OEMs).

Source: PSE Disclosure April 12, 2010

EDC's New Rig to Boost Drilling Income

Geothermal leader Energy Development Corporation (EDC) expects to save US$40,000 a day from its new state-of-the-art drilling rig with Variable Frequency Drive (VFD) and Amphion Integrated Rig Control System, the most modern in the country.

EDC President and COO Richard Tantoco said:
“With this new state-of-the-art rig, we will achieve significant operational efficiency by reducing our drilling days by 40 to 50%. For every day deducted from each well we drill, not only do we save US$40,000 but we also accelerate the production of steam that results in higher revenues.

The rig’s superior safety and mobility features will also enable us to accomplish our drilling targets in terms of programmed wells per year and this is crucial since we are in an expansionary mode.”

The new rig which EDC purchased for almost P1 billion has two unique features:

• the Variable Frequency Drive (VFD) which allows for a more accurate speed and torque control, and
• the Amphion Integrated Rig Control System which centralizes control of various rig equipment.

In addition, its mud system has a 1,800 barrels capacity which can increase rate of penetration. The new rig also has superior safety and mobility features.


Tantoco added:
“We continue to invest in drilling equipment and manpower because they form the backbone of our geothermal business. The new rig is a valuable addition to our assets and will enable us to meet our drilling targets not only for our existing projects but also for the Mt. Labo and Mt. Mainit prospects.”

EDC recently bagged the service contracts for the Mt. Labo and Mt. Mainit geothermal prospects in Camarines Norte and Davao del Norte, respectively.

While its main revenues come from steam and electricity sales, EDC has made significant inroads in marketing its drilling services abroad. It has an existing contract with Papua New Guinea’s Lihir Gold Limited (LGL), one of the leading gold producers in the Asia Pacific region. LGL has been engaging EDC’s engineers and services since 1999 for various drilling contracts. EDC has been exporting its drilling services since 1997.

Source: EDC Press Release Feb 25, 2010.