Davao City, Philippines – RGC Foam has announced plans for a PHP250m (EUR4.4m) investment in a new manufacturing plant due for completion by June 2015.
The company will also invest PHP150m in its Davao City showroom. The plans are part of a strategy to secure a 15% growth rate during the “next few years,” according to Frederick Sow, general manager for the Visayas and Mindanao, two of the three island groups situated in the Philippines.
Over the next few years, the company will invest PHP900m in the two island groups, which have a combined population of around 40m people.
The company produces Uratex foam, used in automotive, furniture, bedding, footwear and textile applications on Hennecke machines with raw materials from Bayer, BASF, Shell, Dow, Mitsui, according to its website.
XE Currency conversion: 24 November, 2014