INCOME from furniture exports reached $ 303.8 million last year, up 3.3 percent from about $ 295 million in 2004, the Department of Trade and Industry said.
Of revenue last year, accounted for 68 percent of shipments to the United States. Japan absorbs 4 percent of the total while 2 percent went to the United Kingdom. Also, the DTI said 7.6 percent of the amount of product represented by Cebu-based Dedon Manufacturing Inc., which produces aluminum furniture.
According to the Philippine Trade and Investment Center in Berlin, Dedon GmbH the parent company will continue to expand operations in the Philippines and has allocated $ 5 million for capital expenditures for the next three years. Performance Dedon Philippines hailed as a successful synergy between German technology and expertise.
Minister for Trade Peter B. Favila said the partnership is not only a significant contribution but the dollar revenue growth and jobs to Cebu for Cebuanos. The Company, founded in 2000 with initial capital investment P14.3 million, now has 2730 workers. This is expected to reach 3000 by year end.
"We consider our employees partners because we associate them to the company's success," said Herve Lambert Dedon president. He said the parent company chose to invest in Cebu because the province's reputation as a Mecca of traditional basket weaving.www.inq7.net
Of revenue last year, accounted for 68 percent of shipments to the United States. Japan absorbs 4 percent of the total while 2 percent went to the United Kingdom. Also, the DTI said 7.6 percent of the amount of product represented by Cebu-based Dedon Manufacturing Inc., which produces aluminum furniture.
According to the Philippine Trade and Investment Center in Berlin, Dedon GmbH the parent company will continue to expand operations in the Philippines and has allocated $ 5 million for capital expenditures for the next three years. Performance Dedon Philippines hailed as a successful synergy between German technology and expertise.
Minister for Trade Peter B. Favila said the partnership is not only a significant contribution but the dollar revenue growth and jobs to Cebu for Cebuanos. The Company, founded in 2000 with initial capital investment P14.3 million, now has 2730 workers. This is expected to reach 3000 by year end.
"We consider our employees partners because we associate them to the company's success," said Herve Lambert Dedon president. He said the parent company chose to invest in Cebu because the province's reputation as a Mecca of traditional basket weaving.www.inq7.net
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