Thermal management systems specialist Gentherm said on Tuesday (23 December) it will expand production capacity in Asia by opening a new factory close to the Vietnam capital Hanoi.
The new factory will be 220,000 sq ft in size and is scheduled to open in the fourth quarter of 2015. It will make the supplier’s full line of seat comfort and industrial products and is expected to employ up to 1,500 people.
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This is the second new factory Gentherm plans. Last week, the supplier announced a new European factory for Macedonia.
The Vietnam plant is intended to accommodate expansion and expected growth in the company’s Asian operations, a key region for Gentherm, president and CEO Daniel Coker said in a statement.
“Asia is the fastest growing region of the world, not only in the automotive market, but across all markets,” Coker said. “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 labour force and workplace environment to further pursue our ambitious growth plans in Asia, and elsewhere in the world.”
