Taiwan PCB Techvest, a manufacturer of printed circuit boards (PCB), is set to launch its Vietnam factory in the next quarter to serve the automotive market.
The factory is located in the northern province of Ha Nam, according to the firm’s September report. Listed on the Taiwan Stock Exchange (TWSE) as 8213, the firm currently has three facilities in Sichuan, Jiangsu, and Guangdong provinces of mainland China, and two others in the cities of Taoyuan and Kaohsiung of Taiwan.
The firm aims to start trial production at the Vietnam factory by the end of 2023. The move is part of the firm’s response to international political turmoil that has caused a shift in the global supply chain, it said.
In a filing to the TWSE in August, Taiwan PCB Techvest said it had increased its investment in its Vietnamese subsidiary, called Chi Chau Printed Circuit Board (Vietnam) Co., Ltd., by $40 million, raising the cumulative figure to $60 million.
In the first half of 2023, Taiwan PCB Techvest earned a post-tax profit of TWD454.2 million ($14.1 million) on net sales of TWD9,512.5 million ($295.8 million), down 47.8% and 27.1% year-on-year, respectively.
In the year to August 20, Ha Nam attracted $227.6 million of foreign direct investment projects, up 250% year-on-year, according to the Ministry of Planning and Investment.