MANILA -- EMS firm Ionics will add a subsidiary to sell electronic equipment or parts, it was reported today.

The EMS firm is raising about P$250,000 through a share offering to help pay for Ionics Products Solutions. It has not disclosed whether the new subsidiary will be acquired or incorporated.

Separately, Ionics' wholly owned Ionics Properties subsidiary will purchase a 1.5 hectares lot in the Light Industry & Science Park of the Philippines II, in Calamba, Laguna province. The site will be held for future use.

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