SecurityWorldMarket

29/04/2017

Hanwha to build $100M production facility in Vietnam

Teaneck, NJ (USA)

Lee Man-Seob, President and CEO of Hanwha Techwin Security Business Group

Hanwha Techwin is expanding the company’s manufacturing capacity by constructing a 646,000 square foot facility costing $100M in Vietnam’s Bac Ninh province.

With production facilities in South Korea and China, the new $100 million Vietnam facility located about 20 miles northeast of Hanoi will serve as a production base, increasing capacity for Hanwha’s security products including cameras and recording devices. After researching a number of viable locations for the new facility, Bac Ninh was chosen because of the optimal benefits it offers Hanwha Techwin for the supply of parts, logistics and manpower.

“This investment is a testimony to Hanwha’s dedication to the development and production of technology focused security products worldwide,” said Soon Hong Ahn, President, Hanwha Techwin America. “This facility will enable us to further expand our production by an additional 8 million units a year, allowing us to achieve economies of scale and to maintain our global competitiveness for video security products and solutions.”

Hanwha Techwin will benefit in terms of production capability expansion, enhanced cost competitiveness through production cost innovation and securing excellent manpower with relatively low labour costs. It is expected that all of those benefits will drive Hanwha Techwin to jump into the South East Asian market where there is rapid growth, helping it become a global security company.

“This is part of an aggressive investment strategy which will enable us to successfully compete in the global market whilst demonstrating Hanwha Group’s active commitment in its security business,” said Lee Man-Seob, President & CEO of the Hanwha Techwin Security Business Group. “We will not hesitate to make further bold investments in development and marketing in the future.”

Construction of the Vietnam facility is expected to be complete in December of this year, followed by production line set-up and test production in the first half of 2018. Mass production and full activation of the factory should begin in the second half of 2018.


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