Taiwan electronics maker plans to invest $172 million in Vietnam

14-Dec-2019 Intellasia | VNS | 6:02 AM Print This Post

Taiwan-based Chaun-Choung Technology Corp, a thermal management solution provider, has decided to invest $172 million in Vietnam over the next seven years, according to Taiwanese website m.focustaiwan.tw.

The site said the investment project aimed to expand the manufacturing network beyond Taiwan and mainland China will be carried out in January 2020.

Chaun-Choung, which makes thermal components such as heat sinks, heat pipes, and vapor chambers, told the site that its facility in Hanoi will manufacture vapor chambers and thermal modules.

The electronics manufacturer said it has the support from its parent company Japanese Nidec Corp, which acquired a majority stake in Chaun-Choung in November 2018.

Nidec bought a 49.01 per cent stake in Chaun-Choung in 2018, then raised its stake to 52.14 per cent in June and to 53.48 per cent in early December.

Analysts said Nidec’s move reflected its optimism over thermal management market, in particular the expected strong demand for vapor chambers from smartphone vendors as the coming era of 5G products.

Chaun-Choung’s thermal management solutions are used in automotive electronics, 5G base stations, automation equipment and artificial intelligence devices.

Chaun-Choung had consolidated sales of NT$7.79 billion ($526.8 million) in the first 11 months of 2019, up 11.79 per cent from a year earlier.

http://bizhub.vn/corporate-news/taiwan-electronics-maker-plans-to-invest-172 million-in-viet-nam_311757.html

 


Category: Business, Vietnam

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