By Cris Larano
MANILA--Integrated Micro-Electronics Inc. (>> Integrated Micro-Electronics, Inc.) said it plans to build a factory in Serbia to service the growing market for automotive components in Europe.
IMI, a unit of Philippine conglomerate Ayala Corp. (>> Ayala Corporation), already operates a manufacturing facility in Bulgaria and the Czech Republic.
IMI told the stock exchange it expects to start construction on the Serbian factory next year. The factory is expected to cost EUR30 million and start producing electronic automotive components in 2018.
The factory is expected to employ more than 1,200 people over a 10-year period.
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