Camso expands manufacturing in Vietnam
Vietnam: As per
the executives of Camso, the company has established and inaugurated its
manufacturing plant in Bin Duong province, Vietnam, with the purpose of
production of forklift tires. The construction of the plant has been completed
in 14 months in approximately 247,500 sq. ft. area, and employs a workforce of
160 people. However, the investment of the company for the establishment of the
facility, and its production capacity remains undisclosed for some reasons.
As per the Vice President and General
Manager- Mr. Jean-François Ferland, the new facility has been established to
improve company’s relations with its OEM partners as well as aftermarket
customers in Asian markets. The company has made an investment to grow its
leadership position in material-handling sector, he added further.
The company considers the manufacturing plant
an ideal location to diversify its manufacturing operations and improve its
competitiveness, as Binh Duong province is close to Ho Chi Minh city and
Vietnam has abundant rubber resources, with other factors including competitive
quality labour and favourable industrial economic environment.
The company is already a prominent player in
industrial tire segment, and has 3 other plants in Asia and 9 others across the
world. By the help of this facility, the company aims to improve its position
in the market.
According to a recent report published by Techsci Research, “Vietnam
Tyre Market Forecast and Opportunities, 2020”, Vietnam is a developing country with a
population of 91 million in 2014, and has emerged as a major market of
automotive tires over the last five years. Further the country is witnessing
growing fleet of vehicles and increasing demand of OTR tires. In addition, the
country has vast resources of rubber, which makes the country an ideal
destination for establishing tire manufacturing plants in the country.
As per TechSci Research, Camso’s decision of
opening a manufacturing plant in Vietnam is strategically sound, as it will
help the company to strengthen its position in Asian markets, to gain a
competitive advantage over other players in this segment.