Shin-Etsu Magnetic Philippines, a leading manufacturer of rare earth permanent magnets for electronic devices, information technology products, automotive, factory automation, and hard disk drives, opened its eighth plant in Binan, Laguna last 10 May 2017.

Shin-Etsu Magnetic Philippines was established on March 1999 and a 100% subsidiary of Shin-Etsu Chemical Co., Ltd. of Japan with manufacturing facilities operating inside the Laguna Technopark Economic Zone.

As of March 2017, Shin-Etsu has more than 3, 400 local workers, USD 261 million total number of export, and Php 1.5 billion total investment in the Philippines.

The opening Shin-Etsu Magnetic Philippines' Binan, Laguna plant.
Opening of Shin-Etsu Magnetic Philippines’ latest plant in Binan, Laguna last 10 May 2017.

The event was attended by the international and local executives and clients and partners of Shin-Etsu, including Philippine Economic Zone Authority Director General Charito B. Plaza, Department of Trade and Industry Region IV-A Director Marilou Q. Toledo, Department of Labor and Employment OIC- Assistant Regional Director Francis A. Gonzalo, Binan Congresswoman Marlyn “Len” B. Alonte-Naguiat, and Binan Mayor Walfredo R. Dimaguila Jr.