Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates

Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Bosch breaks ground on auto belt factory   2008-09-07 - VNS

The German-headquartered Bosch group marked its first investment in Viet Nam with a ground-breaking ceremony at Long Thanh Industrial Park in Dong Nai Province, where its new hi-tech production facility for automotive push-belts is located.

Covering 160,000sq.m, the facility will manufacture push-belts for Continuous Variable Transmissions (CVT) which can be installed in vehicles ranging from sub-compact cars to sports utility vehicles with diesel, gasoline or hybrid engines.

"We believe this investment will deepen our roots and strengthen our operations in Viet Nam," said Cem Peksaglam, president and managing director of Robert Bosch Pte Ltd. "Viet Nam will become Bosch’s global manufacturing network in the region."

CVT is known to enable auto engines to run at particularly efficient speed ranges. It also increases fuel efficiency by up to 15 per cent and in turn lowers the emission levels of carbon dioxide (CO2) by up to 10 per cent.

With more environmentally responsible consumers and companies heeding the call to lower carbon dioxide emission levels, this type of pro-environment automatic transmission has been attracting growing interest from automotive buyers from all over the world, Bosch said.

Construction of the facility will be completed in October 2009. When fully operational, the new plant will be able to produce 380,000 push-belts in its first year and the volume is expected to go up to 2.3 million units by 2015.

The new facility will be Bosch’s second CVT push-belt production facility in the world. The other is located in Tilburg, the Netherlands.

Bosch first announced its plans to build the CVT belt plant during the opening of its subsidiary Robert Bosch Viet Nam Co in HCM City in April.

Since then, the company has begun the assembly of the CVT push-belts at a temporary production facility within Long Thanh IP less than 2km from the site.

According to Vo Quang Hue, managing director of Robert Bosch Viet Nam Co, the groups will invest 10 million euros in the facility in the first year of operation and the figure is expected to reach 55 million euros by 2015. The company will employ some 800 local workers.

"The products will be hi-tech, so Bosch will train staff at overseas facilities and transfer technologies from Germany," said Hue.

The investment in Viet Nam is part of Bosch group’s plan to invest 1.4 billion euros in Asia Pacific from 2008 to 2010.

Bosch group, present in Viet Nam since 1994, has marketed various technology products in the country including power tools, security systems, industrial and factory automation components and systems and packaging technology.

Other news

Market slides as blue chips drop   2008-09-07

Vietnam introduces potential in Shizuoka   2008-09-07

PetroVietnam sets up strategy to 2015   2008-09-07

Insurance market lures international investors   2008-09-07

Aker Solutions sets up new base in VN   2008-09-07

Ailing Vietnam’s supporting industries   2008-09-07

Second Vietnam economic forum to open   2008-09-06

Issuing international bonds: good idea, but not easy   2008-09-05

HCM City to have five new IZs   2008-09-05

Phu My Bridge work should not hinder ships   2008-09-05

Summit outlines way forward for logistics sector   2008-09-05

Mixed fortunes for HCMC apartment investors   2008-09-05

Stocks edge up, analysts see fall ahead   2008-09-05

World’s gold prices plunging, Vietnam’s decreasing slowly   2008-09-04