|
Bosch plant delayed for a year amid recession
Germany’s Bosch Group has delayed the opening of its latest Vietnam plant, originally scheduled for mid-2009, as the global recession has cut demands for auto parts, said an official from the company.
Vo Quang Hue, Managing Director of Robert Bosch Vietnam, said the plant in Long Thanh Industrial Zone, Dong Nai Province, would be delayed for a year and a half.
“It would face difficulties if it opened this year as demand is declining in our main markets,” said Hue.
Hue told Thanh Nien Daily the group’s first automotive parts production facility aimed to make push-belts for Japanese automakers.
Ten million euros (US$14 million) have been invested in the plant so far, said Hue, adding that the company expected to invest 55 million euros ($77 million) in the facility by 2016. Hue had initially struggled to get the group’s approval to set up the facility in Vietnam instead of China. The group received the license to operate its wholly-owned subsidiary in 2007 and broke ground last August.
The director said the group recorded consolidated sales of 11 million euros ($15 million) in Vietnam last year, an increase of 83 percent over 2007, ranking in Bosch’s top five best performing regions for 2008.
He said hydraulic lifting equipment orders from national hydropower works in the country supported the growth.
The group was looking to further expand its presence in Vietnam through new partnerships, introducing a wider range of innovative products and strengthening distribution this year, said Hue.
Bosch also signed on to support vocational training for students and at Cao Thang College in Ho Chi Minh City last week.
Minh Quang
thanhnien
|
