Epson puts up Tuas building for sale, plant to close in 2027, 350 staff expected to be affected

Japanese electronics firm Epson has put up its Tuas plant building for sale ahead of its closure.

The building is two storeys high and sits on a plot of land that measures 307,420 sq ft.

Marketing agent CBRE said the building has a total gross floor area of 302,458 sq ft, potential built-up area of about 768,550 sq ft, and 31 years left on its lease, reported Business Times.

Epson is aiming to sell the property for around S$55 million.

Closure will affect 350 employees

The firm announced in 2024 that it will wind down its plant at Tuas over three years.

It is expected to affect around 350 employees.

Part of the plant's operations will be moved overseas by 2027.

Parts of Singapore Epson Industrial's operations will remain in Singapore.

They include the firm's plating plant, central warehouse, and regional headquarters for marketing and sales in Southeast Asia.

Affected employees were informed of the decision on Apr. 19, 2024, reported The Straits Times in 2024.

The company said it has "prepared a strong compensation package that will go above and beyond what is provided in the collective agreement".

Singapore Epson Industrial is working with the Advanced Manufacturing Employees’ Union to support affected employees.

The support offered include retrenchment benefits, retention packages, as well as support for further employment elsewhere.

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