Posted on 14 Nov 2016
South Korean deck plate-maker Duckshin Housing Co. Ltd. said it is planning to set up its second factory in the Philippines and that construction could begin next year.
Public relations spokesman for Duckshin Housing Ja-yong Koo told reporters of the company’s plan to expand its manufacturing footprint to the Philippines in 2017, after setting up its first overseas manufacturing site in Vietnam this year.
“We have plans to build a factory in the Philippines next year, our chairman,Myung-hwan Kim, is coming this Sunday to see which site is best to put up the plant,” Koo said.
The robust construction activity in the Philippines and the bullish spending on infrastructure were “positive signals” for the Korean firm to set up shop here, he said.
Tightening competition leading to a plunge in construction building materials in South Korea had also compelled the company to seek growth outside its home market.
Duckshin specializes in making deck plates, which are steel structures for the construction of slab.
According to the company, deck plate can reduce the construction period by 40 percent and costs by 25 percent, compared to the conventional method of using a plywood formwork.
The investment amount for the planned facility cannot be disclosed yet but the company spent at least $18 million for the establishment of its operations in Vietnam.
The plants in the Philippines and Vietnam will serve their domestic markets initially, then both may eventually export to Asean.
Duckshin also has two factories in South Korea, where it has captured a 30-percent market share in slab-construction materials. The deck plate manufacturer has inked a distributorship agreement with FilHigh last year, allowing its products to be used in the building of industrial plants, such as the Epson assembly plant in Calamba.
It has further set up its first local branch this year as a prelude to its future expansion plans in the country.
