Taipei, Aug. 11 (CNA) Canon Taiwan, Inc., a local subsidiary of Japan's camera and printer maker Canon Inc., opened a new factory in Taichung in central Taiwan on Saturday to make digital camera lens.
The new facility in the Taichung Export Processing Zone and a Canon factory that was opened in Chiayi in southern Taiwan in June are expected to contribute greatly to the local economies, said Economics Minister Shih Yen-shiang at the opening ceremony.
Canon said that with the establishment of its two new manufacturing plants, its investment in Taiwan this year now stands at more than NT$15 billion (US$500.3 million).
Meanwhile, the company also began renovation of a 41-year-old factory in the Taichung processing zone same day, with the goal of restarting operations next July.
The Japanese company has played a major role in the development of Taiwan's optics industry during the 41 years since it first established a presence in the country, Shih said.
Canon's three manufacturing plants in Taichung and Chiayi will employ a total of 8,000 workers and are expected to create NT$80 billion in annual revenue by 2014, according to the company.
(By Chen Ching-ping and Scully Hsiao)