German tape maker tesa opens $58 mln factory in northern Vietnam
Germany-headquartered tape maker tesa inaugurated a EUR55 million ($57.8 million) factory in Hai Phong city on Thursday.
The opening of the seven-hectare factory is part of tesa’s strategy to regionalize production, expand capacity, and optimize supply chains, according to the international manufacturer of adhesive tapes and self-adhesive solutions.
The move will ensure the availability of its products, transport capacity, and procurement of raw materials, the firm added in a release.
tesa opens a factory in Hai Phong city, northern Vietnam on October 12, 2023. Photo courtesy of Hai Phong news portal.
Construction of the factory, located in Deep C II B Industrial Park, started in January 2022. It has an annual capacity of 40 million square meters of tape, aiming to serve the growing Asia market, especially for the automobile and electronics sectors.
At present, tesa is active in about 100 countries, and 130 and 70 of its tapes are installed in a single electric vehicle and a single smartphone, respectively.
Speaking at the grand opening ceremony, Le Trung Kien, head of Hai Phong Economic Zone Authority (HEZA), said he expected the project to help Hai Phong’s workforce approach modern technology and research & development in the sector. Kien also called on the German Embassy in Hanoi to continue helping Hai Phong with energy transition, green and renewable energy, vocational training, digitalization, manufacturing & processing, and others.
He also urged tesa to expand its operations in Hai Phong towards building an R&D center in the northern coastal city.
In the first nine months of 2023, Hai Phong attracted over $3 billion in FDI, the highest figure among all localities in Vietnam, according to municipal data.
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