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Savimex opens wood factory, focuses on US market
Savimex Corporation, one of the country’s leading wood exporters, announced during the opening of its new factory over the weekend that it would be focusing henceforth on the US market.
The Ho Chi Minh City-listed exporter said in a report that local wood processors had brighter prospects of late as some US importers had switched their orders from China to Vietnam since earlier this year.
Already this year, Savimex said it had signed contracts worth US$10 million for exports bound for the US market.
The corporation began production in its factory in HCMC’s District 12 over the weekend.
The VND8 billion (US$500,000) factory is equipped with machinery and technology imported from Japan and Taiwan and has the capacity to produce $300,000 worth of products per month.
Initially, Savimex focused on the Lao market when established in 1989, but has since shifted its focus to the US
Thanhnien
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