Dec 24 2014
Gentherm, the global market leader and a developer of innovative thermal management technologies, announced today that it intends to expand its production capacity in the fast growing Asia market by opening a new manufacturing facility in Vietnam close to the capital city of Hanoi in the northern part of the country.
The new facility will be approximately 220,000 square feet in size and is tentatively scheduled to open in the fourth quarter of 2015. 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.
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.
The Vietnam facility is being designed to accommodate the expansion and expected growth in the Company's Asian operations, a key region for Gentherm, noted President and CEO Daniel R. Coker.
"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 labor force and workplace environment to further pursue our ambitious growth plans in Asia, and elsewhere in the world."
Source: http://www.gentherm.com/