ABB to Open New Factory in Vietnam
ABB, a power and automation technology group, has announced that it will open a new factory in Vietnam at the Tien Son Industrial Zone in the Tu Son District of the Bac Ninh Province.
ABB has committed to invest nearly $30 million in this new facility, which has been licensed by the Bac Ninh Industrial Zones Management Authority. The new plant is part of ABB’s ongoing initiative to build new capacity in the fast growing Asian market and to further develop its presence in Vietnam.
The new factory will be built on a 87,000sqm tract of land and is expected to go into full operation by the end of 2009. It will produce medium and high voltage power products and will serve both the local and the overseas markets.