Binh Duong (VNA) – The Vietnamese arm of Italian power transmission giant Bonfiglioli Riduttori broke ground on March 6 for an electric motor plant in the southern province of Binh Duong.
Once it goes on stream this October, the factory will churn out 324,000 motors per year – and up to 623,000 by 2011 – exclusively for its parent company.
Bonfiglioli Viet Nam’s general director Luigi Galimberti said: “We will produce electric motors [exclusively] for Bonfiglioli Riduttori’s activies.”
The two-member limited liability company has leased 18,000sq.m from developer Becamex at My Phuoc 3 Industrial Park in Ben Cat district, some 40km from Ho Chi Minh City.
The factory will employ some 350 workers.
“This 16 million USD investment is just the starting point of Bonfiglioli’s presence in Viet Nam, which will become larger and stronger in the near future,” Galimberti said.
The factory would be equipped with state-of-the-art machinery, he said.
Clementino Bonfiglioli, President and Founder of the company, said: “This event is particularly important to Bonfiglioli Riduttori because it is the sign of the start of a strategic investment for our company.”
The Lippo di Calderare (near Bologna)-based company had chosen Viet Nam for its largest investment outside Italy, Sonia Bonfiglioli, vice president, said “because this reliable country offers a win-win scenario for investors like us.
Bonfigliolio Riduttori has a presence in 14 countries and had revenues of 900 million USD last year.
It chose Viet Nam over China for the new manufacturing facility citing its central location in Southeast Asia, stable socio-political environment, attractive tax incentives and labour cost, and an educated labour force.-Enditem
|
|