LEXMARK INTERNATIONAL, PHILIPPINES, BREAKS GROUND FOR NEW INKJET PRODUCTS PLANT IN LAPU-LAPU.LEXINGTON, Ky.--(BUSINESS WIRE)--March 15, 1999--Lexmark International (NYSE NYSE See: New York Stock Exchange :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 The City of Lapu-Lapu is a 1st class highly-urbanized city in the province of Cebu, Philippines. The city occupies most of Mactan Island, just one kilometer southeast from the island of Cebu, and also covers the whole of Olango Island five kilometers further to the southeast plus Mayor, and Melito Salazar, Managing Director of the Board of Investment and Undersecretary for the Department of Trade and Industry The Department of Trade and Industry was a United Kingdom government department which was disbanded with the announcement of the creation of the Department for Business, Enterprise and Regulatory Reform on 28 June 2007[1]. . 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 North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. customers; and now in the Philippines for our Asian customers." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 MEPZ Madras Export Processing Zone (India) MEPZ Mactan Export Processing Zone (Philippines) 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 A printer that uses hammers and a ribbon to form images out of dots. It is widely used to print multipart forms and address labels. Also known as a "serial dot matrix printer," the tractor and sprocket mechanism in these devices handles thicker media better than laser and inkjet printers. and associated consumable supplies for the office and home markets. The company is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Lexmark International Group, Inc. (NYSE: LXK). Lexmark is on the internet at www.lexmark.com. ----- 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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