ENGEL Opens Company’s Subsidiary in Vietnam
ENGEL Opens Company’s Subsidiary in Vietnam: ENGEL: Subsidiary opened in Vietnam / Strong demand from electronics firms for injection moulding machines / Opportunities arising in other market segments
“The Vietnamese market has grown strongly over the last few years and indications point to continuing above-average dynamics for the future, said Christoph Steger, chief sales officer at Engel Austria, adding that the new subsidiary would allow it to react faster and more flexibly to local customers’ requirements.
Previously, Engel Singapore was responsible for business in the country and managing director Thomas Lim said it would continue to provide support.
Major international electronics companies and OEMs that make smartphones and tablet PCs, for example, have been investing in Vietnam and have announced they will be transferring more production there. “Today, the high-tech field is one of the major segments in the Vietnamese injection moulding market. For the fabrication of sophisticated small components and thin-walled products, above all electric machines are used that combine top performance and precision with short cycle times and very low unit costs, Steger explained.Opportunities are also opening in the packaging, household goods and construction sectors with numerous injection moulding companies being founded, said Engel which already supplies machines to Asian customers from its plants in Pyungtaek-City, South Korea, and Shanghai and Changzhou in China.