Foreign arms firms might produce in Philippines

Weapons and munitions manufacturers from Canada, the United States, South Korea and South Africa are considering setting up operations in the Philippines once its first defense economic zone is launched, a senior government official said on Tuesday.

 Rheinmetall Denel Munition of South Africa and a unit of South Korea’s S&T Holdings Co. top the list of defense companies looking to lease land in the Southeast Asian country, said Roger Gamban, chief of the state agency overseeing the country’s weapons and munitions output.

U.S.-based Colt’s Manufacturing Co and Canada’s Waterbury Farrel are also considering manufacturing in the Philippines, he told Reuters.

Read more on this in the source site, after the first three paragraphs. Click.. here.

Source Credits: Rosemarie Francisco in Reuters. Editing by Muralikumar Anantharaman

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