Chemicals manufacturer Huntsman Corporation has opened a a multi-purpose facility in Vietnam where it will manufacture formulated systems for footwear.
The move is the firm’s first manufacturing expansion investment outside of China for its business in Asia Pacific and will see the new facility house Huntsman’s Polyurethanes and Advanced Materials businesses. It comprises manufacturing, R&D capabilities, a technical service centre, warehouse and distribution space and a commercial office.
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The site, located at the Amata Vietnam Industrial Park, near Ho Chi Minh City, is a greenfield investment.
“Vietnam is one of the largest and fastest growing countries in Asia Pacific. For Polyurethanes, we’ve seen double digit growth rates for a sustained period and fully expect this to continue,” says Tony Hankins, Huntsman’s CEO of Asia Pacific and president of the Polyurethanes business. “At the new site, we’ll manufacture formulated systems for the footwear and automotive markets; rigid insulation foam used in construction and cold chain applications; and simulated wood for the furniture market. These products will be consumed primarily in Vietnam, with the balance being exported to Cambodia.”
He added the facility will enable Huntsman to collaborate more effectively with Vietnamese customers and will also strengthen the firm’s strategy of globalising downstream bolt-on acquisitions.
Scott Wright, president of Huntsman’s Advanced Materials business said the firm sees many opportunities in Vietnam to support large-scale infrastructure and construction projects
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“The new plant will give us the capability to efficiently supply customers across the ASEAN region with high quality electrical insulation, coatings and adhesive solutions that will ensure these ambitious projects are implemented successfully,” he said.
In addition to this facility, Huntsman has a distribution warehouse located in the inland container depot at Long Binh, Dong Nai Province, and a site in Hanoi that offers technical services and comprises warehouse and distribution space and a commercial office.
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