CIRTEK Holdings Philippines Corp. is setting aside up to $8 million or about P400 million for capital expenditures (capex) this year to further expand its production capacity.

“The [big] chunk is really more for expanding our capacity as we seek Quintel [Cayman Ltd.] ramp-up. As we expect Quintel sales to double, therefore we need to expand our manufacturing capacity,” Cirtek Chief Finance Officer Anthony Buyawe told reporters last week.

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