Vietnam-based APVN Sealing, under Switzerland-based Angst+Pfister Group, opened its factory in the southern province of Dong Nai with an investment of €11.1 million ($12.1 million) on Wednesday.
Construction of the project, located in Ho Nai Industrial Park - Phase 2, commenced in January 2023.
The eco-friendly factory will provide high performance elastomeric sealing solutions, including O-rings and gasket, for various sectors such as automotive, processing, medical devices, pharmaceuticals, food & beverage, and oil-gas.
The 4,500-sqm factory has an annual capacity of 800 million items, equivalent to 500 tons of products. The new plant also features a storage facility to distribute its products across Vietnam and Southeast Asia.
Angst+Pfister serves more than 20,000 customers annually in over 50 countries, supported by state-of-the-art engineering development centers.
In the first two months of this year, Dong Nai attracted foreign direct investment (FDI) projects of $1.78 billion to industrial parks, up 9% year-on-year, according to provincial data. About 80% of the output are exported, while 20% serve the domestic market.
Dong Nai is a manufacturing hub in southern Vietnam, together with Ho Chi Minh City and Binh Duong province.