Gentherm begins building new manufacturing facility in Vietnam
(VOV) - A world leader in thermal technology, Gentherm Inc announced on December 23 that it intends to expand its production capacity in the fast growing Asia market by opening a new manufacturing facility in the northern part of Vietnam, close to the capital city of Hanoi.
As planned, the new facility will be built on 20,439sq.m in Duy Tien district, Ha Nam province and put into operation in the fourth quarter of next year.
The facility will be dedicated to the production of the full line of Gentherm seat comfort and industrial products, and is expected to provide jobs for up to 1,500 people.
Gentherm President and CEO Daniel R. Coker said the Vietnam facility is being designed to accommodate the expansion and expected growth in the Company's Asian operations, a key region for Gentherm.
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Coke said, Asia is the fastest growing region of the world, not only in the automobile market but across all markets. We already have an industry-leading presence in the Chinese, Korean and Japanese markets and our new footprint in Southeast Asia will serve to extend our presence across the rest of Asia. We believe Vietnam provides us with a competitive labor force and workplace environment to further pursue our ambitious growth plans in Asia, and elsewhere in the world, Coke added.
The Vietnam facility is the second new manufacturing plant being developed by Gentherm. Last week, the Company announced it intended to expand its production capacity in Europe by opening a new manufacturing facility in Macedonia.