(ĐN)- Fibre producer Hyosung Vietnam Co, Ltd, a subsidiary of the Korean firm Hyosung Corp, will spend another US$600 million to expand its business in Dong Nai, said Executive Director Yoo Sun Hyung of the company.
 |
| Hyosung Vietnam. |
(ĐN)- Fibre producer Hyosung Vietnam Co, Ltd, a subsidiary of the Korean firm Hyosung Corp, will spend another US$600 million to expand its business in Dong Nai, said Executive Director Yoo Sun Hyung of the company.
In preparation for the expansion, the firm has rent an additional 22.6 hectares in Nhon Trach 5 industrial zone, increasing the total area of the company's operations to 90.6 hectares in the province.
In 2014, the firm earned around US$1 billion in revenue, and became an important stronghold of the Hyosung Corp. Around 90 percent of its products are exported worldwide and its tire cord fibres represent nearly 50 percent of the global market share.
Hyosung Vietnam has been operating in Dong Nai for more than seven years, with a total registered investment of US$995 million. Over the past time, the company has received much supports from local authorities and relevant agencies.
According to Mr Yoo Sun Hyung, workers are the most valuable resources of Hyosung Vietnam; therefore, the company has made efforts to take good care of its workers and ensure social security for them. It is planning to build apartments for its workers in the coming time.
The company is expected to reach a turnover of more than US$ 1 billion in 2015.
Reported by M.T
