LISTED Ionics Inc. is setting aside a significant amount of capital expenditure for the next year to beef up its production ensemble. In a disclosure on Tuesday, the electronic manufacturing firm said it had approved its 2020 budget of $10.45 million (P543 million) to acquire additional manufacturing equipment. It has diversified since, manufacturing electronic components and equipment for the telecommunication, automotive, computer, consumer, plastic and medical industries. Ionics’ subsidiaries include Ionics Properties Inc., Ionics Circuits Ltd. and Iomni Precision Inc. In the same month, the company authorized equity restructuring of Iomni Precision to write off its deficit.

Source: Manila Times November 12, 2019 18:01 UTC