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LEXMARK INTERNATIONAL, PHILIPPINES, BREAKS GROUND FOR NEW INKJET PRODUCTS PLANT IN LAPU-LAPU.

LEXINGTON, Ky.--(BUSINESS WIRE)--March 15, 1999--Lexmark International (NYSE:LXK), Philippines, recently held a ground breaking ceremony for its new inkjet products facility in Lapu-Lapu on Mactan Island. Manufacturing is expected to begin in the fourth quarter of 1999 and will provide several hundred jobs.

A number of Philippines government officials were invited to the groundbreaking event, including Pablo Garcia, Cebu Province Governor, Ernest H. Weigel, Jr., Lapu-Lapu City Mayor, and Melito Salazar, Managing Director of the Board of Investment and Undersecretary for the Department of Trade and Industry. Also, Bernard Masson, president, Consumer Printer Division, Lexmark International, officiated at the groundbreaking along with other executives from Lexmark operations in Lexington, Australia and Singapore.

"This new facility in the Philippines is part of our company's overall strategy of bringing our products closer to end users," noted Glenn Westerman, plant general manager, Lexmark Philippines. "Lexmark has set-up manufacturing plants in Rosyth, Scotland for European customers; Juarez, Mexico for North American customers; and now in the Philippines for our Asian customers."

According to Westerman, the Philippines were chosen as a manufacturing base because of its economic stability, as demonstrated by having weathered recent economic and currency crisis, as well as its abundance of technologically-prepared and English-speaking workforce. Finally, Lexmark also chose the Philippines because of government incentives, through the Export Processing Zone Authority.

In addition, Westerman said, Cebu was chosen due to the MEPZ II proximity to Mactan International Airport and to its excellent shipping port. "With the number of universities in the province, there will always be an abundant source of well-educated personnel for manufacturing and management operations," Westerman added.

Lexmark, which posted revenues in excess of $3 billion in `98, distributes products in more than 150 countries and has manufacturing centers on three continents. Last year, the company was ranked in the top 10 by BusinessWeek in the publication's first Info Tech 100. Lexmark employs over 8,000 people worldwide.

Lexmark International, Inc. is a global developer, manufacturer and supplier of printing solutions and products, including laser, inkjet and dot matrix printers and associated consumable supplies for the office and home markets. The company is a wholly owned subsidiary of Lexmark International Group, Inc. (NYSE: LXK). Lexmark is on the internet at www.lexmark.com.

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Lexmark is a trademark of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective holders.
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Publication:Business Wire
Geographic Code:9PHIL
Date:Mar 15, 1999
Words:402
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