Taiwan-based electro-optical products firm Asia Optical Co Inc plans to make further investments in Myanmar, up to $20 to $23 million (NT$600 to NT$700 million) this year, the company said.
Asia Optical, the world’s largest manufacturer of optical lenses, currently employs 6,000 people in Myanmar, and the number is set to increase to 10,000 this year, turning Myanmar into the company’s second-largest manufacturer and contributing $164.9 million (NT$5 billion) in output value, which is one fourth of the total, Asia Optical Chairman Robert Lai told the firm’s annual banquet.
Facilities in Myanmar are expected to contribute half of output value by 2016.
Thanks to increased orders from Kodak, Asia Optical is poised to see 30-percent growth in consolidated revenue, taking in $742 million (NT$22.5 billion) this year.
Kodak’s camera-related orders in 2014 amounted to 2.5 million units, and are estimated to contribute $247 million (NT$7.5 billion) worth of revenues, Lai said.
Shipments of smartphone lenses are expected to begin in March, and the company estimates a shipment of 500,000 units in total this year.
Asia Optical was established in 1981, focusing on optical products design and production. The company provides optical lenses, aiming devices, imaging intercepting telescope parts, laser range finder parts and microscope components.
Its products are applied in the manufacture of digital cameras, mobile phone cameras, projectors, digital video disk (DVD) optical reader heads, printers and scanners, among others. The company distributes its products primarily in Taiwan and Japan.
Asia Optical’s products are also used in vehicles, with lenses utilised in BMW and Mercedes Benz relying on the company’s supply. Asia Optical’s shipment totals 150,000 units per month.
The company’s plant in Mingaladon Industrial Park, Yangon was opened in March 2003. The components produced in the Myanmar factory are used mainly to supply Asia Optical’s other plants.
The company also owns two factories in mainland China, which employ about 10,000 people.