The FINANCIAL -- Canon announced the establishment of a new Philippines-based manufacturing company for the production of laser printers as well as accessories and parts that will make possible the creation of a globally optimized production system, from Canon, the new company, Canon Business Machines (Philippines), Inc., will be located in the province of Batangas, Philippines.

Recently, the laser printer market has displayed steady growth, with competitively priced models playing a central role. The expected increase in future demand for competitively priced laser printers has created a pressing need for Canon to secure necessary production capacity while making it possible for the company to respond in a flexible manner.

In response to these circumstances, Canon has decided to establish Canon Business Machines, Inc. in Batangas, Philippines. In addition to an established infrastructure, Canon anticipates access to a steady supply of human resources, many of which are capable of communicating in English, making the location well suited for manufacturing.

Canon plans to commence construction for the new company in April 2012 with operations scheduled to begin in April 2013.

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