Seagate Technology, the world’s largest hard drive manufacturer, has announced a 5 year plan to invest 15.3 billion baht into their Thailand operations. The company’s largest facility in Thailand will be expanded.
A new building in Korat is scheduled for completion by 2016.
The company states that the new building will add 2,500 jobs to the country and increase manufacturing capacity by 49 percent. Currently, the company employs 12,100 people in Korat alone.
Thailand, along with China and Malaysia are the company’s key areas of focus. Jeffrey Nygaard, the vice president of global operations, states that the company’s focus on expanding its Korat manufacturing will allow the company to address growing demands for strong. Seagate has been operating in Thailand since 1983.
Citing a favorable work force and cost structure, Seagate’s revenues last year rose greatly in Asia. The continent accounts for 40 percent of the company’s revenue over the past 12 months.
Seagate applied for eight projects in the country since 2007. The company’s eight projects had a value of 55.6 billion baht.
The new building in Korat will be expanded from 160,000 sqm to over 237,000 sqm. The company has stated that the facility will be used for their advanced technology sector. Future, cloud computing projects are just one of the expected projects.
Data storage expectations through 2020 show that demand will grow 26 percent year over year. The company forecasts that 60 percent of all storage will take place on the cloud during this time span.
A large research and development team will be stationed at the new facility, allowing the company to further expand its Thailand operations. The investment in the new facility has been supported and approved by the country’s Board of Investment states senior executive advisor Ajarin Pattanapanchai.
Seagate exported 110 billion baht of hard drives in 2014.