Germany-headquartered tape maker tesa inaugurated a EUR55 million ($57.8 million) factory in Hai Phong city on Thursday, 12 October as part of its strategic orientation to regionalize production, expand capacity, and optimize supply chains. GBA Vice-Chairman Mr. Marko Walde, had the pleasure of witnessing this growing footprint of tesa and extended congratulations to our Corporate Partner.
The new site of tesa in Hai Phong is approximately 70,000 square meters in size and has a production capacity of around 40 million square meters of adhesive tape per year, perfectly complementing the existing production site in Suzhou, China which opened in 2005. The additional production capacity will primarily serve the fast-growing Asian market, especially in the automotive and electronics industries.
Mr. Dirk Hartmann, General Director of tesa Site Hai Phong/ GBA Board member said when it selected Vietnam for its plant, the firm saw an attractive destination for investment thanks to the country’s stable economic growth.