HEAD International Holding GmbH, an Austrian company, has signed a Memorandum of Understanding (MOU) with the Phividec Industrial Authority (PIA) with a 25-year lease agreement for the construction of the company's manufacturing plant in Tagolo-an, Misamis Oriental.
In the eight-page MOU signed by HEAD's Executive Vice President Gerald Skrobanek and Franklin M. Quijano, Chief Executive Officer and Administrator of PIA-Misamis Oriental, the HEAD would construct a plant in a five-hectare site known as "The Park" for the production of "tennis balls" in the Phividec area.
The company would start the construction of the buildings on the plant site for the production facilities in June 2019, expected for completion in 2020.
The second phase would be for the construction of additional production facilities for the transfer of existing production equipment from China to Misamis Oriental.
Atty. Franklin M. Quijano, the former mayor of Iligan City, who was rejected by the Iligan voters in the 2010 & 2013 elections in favor of ex-police chief Celso G. Regencia, said that the additional plants for the production equipment from China would be operational in 2022.
Provincial Governor Yevgeny Vincente Emano, of Misamis Oriental, said that the HEAD project would contribute to the economic development in Misamis Oriental in particular and in the Philippines in general.
Based on the MOU, the HEAD would initially employ 100 to 200 workers with above salaries comparable to the existing salaries of workers in Cagayan de Oro City.
Emano said that the HEAD company might employ a total of 700 once its manufacturing plant becomes fully operational in 2022. [Criz Diaz, Mindanao Daily]
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