USI Holds Groundbreaking Ceremony for Its Vietnam Facility and Expects to Proceed Production in Q3 2021

17-Nov-2020 Intellasia | USI | 7:16 AM Print This Post

On November 14, 2020, USI (SSE: 601231) held a groundbreaking ceremony for its Vietnam Facility in Dinh Vu Industrial Zone (“DVIZ”) located in Hai An District, Hai Phong City, Vietnam. City officials including Nguyen Duc Tho, Municipal Party Committee Member and vice Chair of Hai Phong City People’s Committee, Nguyen Tong Quan, deputy Chief of Office of Hai Phong City People’s Council, Le Trung Kien, Member of the Standing Committee, Hai Phong City Party Committee and Head of Hai Phong Economic Zone Authority, Bui Ngoc Hai, deputy Head of Hai Phong Economic Zone Authority, Bruno Johan O. Jaspaert, general director of Dinh Vu Industrial Zone Joint Stock Company, attended the ceremony to witness the facility’s milestone moment.

On December 12, 2019, USI’s board of directors approved an investment for a manufacturing facility to be set up in Vietnam and, established the Universal Scientific Industrial Company Limited, a wholly-owned subsidiary, for that purpose. With a planned investment of $200 million in Phase I, the project is one of the biggest in Hai Phong, Vietnam in 2020. Covering an area of almost 65,000 square meters, the smart manufacturing facility will be built according to Industry 4.0 standards and be completed in two phases.

USI currently has 10 manufacturing facilities around the world. The Vietnam facility will be USI’s first production base in Southeast Asia, and will play an important role in the company’s “modularisation, diversification and globalisation” strategy to fulfill international customer orders and strengthen supply chain management. The company will also be able to leverage on the country’s labour resource, tax incentive programmes and strategic location to enhance cost competitiveness, consolidate and boost its market position. USI’s investment will also help to promote the development and upgrading of the local high-tech industry, increase employment opportunities and fuel economic growth in Vietnam.

According to Akira Kuei, director of Manufacturing Services Division of USI Vietnam Facility, Phase I of the construction would be completed in the second quarter of 2021 and begin production in the third quarter. The facility will initially focus on manufacturing and assembling chips for wearable electronic devices. The Vietnam facility is expected to create more than 1,700 job opportunities for Hai Phong City and cultivate professional talents in the high-end electronic product manufacturing industry that will help promote Hai Phong’s economy and foster the development of its high-tech segment.

About USI

USI (SSE: 601231, A constituent of CSI300 Index), Universal Scientific Industrial (Shanghai) Co., Ltd, is a global leader in electronic design and manufacturing as well as a leader in the field of SiP (System in Package) modules. USI provides D (MS)2 product services: Design, Manufacturing, Miniaturisation, Industrial software and hardware Solutions, and material procurement, logistics and maintenance Services. With a sales and service network in America, Europe, and Asia, and manufacturing sites in Mainland China, Taiwan, Mexico and Poland, USI offers customer diversified products in the sectors of wireless communication, computer and storage, consumer, industrial, and automotive electronics worldwide. USI is one of subsidiaries of ASE Technology Holding Co., Ltd which is the leading provider of semiconductor manufacturing services in assembly and test in the world. To learn more, visit www.usiglobal.com and engage with us on LinkedIn and YouTube.

https://finance.yahoo.com/news/usi-holds-groundbreaking-ceremony-vietnam-233000314.html

 

Category: FinanceAsia

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