Engel to set up a subsidiary in Vietnam
Austrian firm Engel, which is the world’s largest injection moulding machine maker based on sales, is taking its expansion in Asia seriously. This is because last year its sales boost of 7% growth came from its expanding Asian markets. “We will set up in Ho Chi Minh city, Vietnam, this year,” said Robert Bodingbauer, President, Engel Machinery Korea, speaking at the recently held TPlas show in Bangkok, Thailand. “The company is being set up now and will be functioning by December this year.” The office will be manned by its Singapore branch, until someone is found to manage it.
Bodingbauer also said that production is shifting from China and Thailand to Vietnam, adding that South Korean companies like Samsung were investing in the country. It is also for this reason that Engel is setting up a base in Vietnam. “In Hanoi, the production of mobile phones and tablets have started; and in Ho Chi Minh city there is a new factory being set up for printers so Samsung needs sales and sub-suppliers, and we need to be there to provide sales/service.” He also added that Engel has two service technicians in Hanoi and two in Ho Chi Minh to service the numerous machines supplied to Vietnam. He added, “So there is no problem for turnover, for financing the office, but we also need to provide our customers local service.”
In Thailand, Engel has had its own sales office in Bangkok since 2010 and opened a subsidiary there in 2013.
The privately owned company is the only European injection moulding machine manufacturer with three production plants in Asia: two in China and one in South Korea. “This guarantees short delivery times, flexible adaptation of its products and turnkey solutions to meet local requirements, and fast service on-site,” added Bodingbauer. Engel achieved a global turnover of EUR1 billion in the 2014/2015 financial year.
(IMA)
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