Business

Thursday September 24, 2009

Greenyield building new factory in Vietnam


KUALA LUMPUR: Greenyield Bhd is expanding its capacity in Vietnam with the construction of a factory to manufacture plantation-related products like stimulation systems.

It said the new factory would also produce non-plantation-related products like Artstone plant pots, which is mainly exported to the United States, Australia and Europe, as the manufacturing capacity in Malaysia was running low.

The venture undertaken by Givnflow Co Ltd, a wholly-owned subsidiary of Gim Triple Seven Sdn Bhd, is 100%-owned by Greenyield.

The factory, built on a piece of land leased by Givnflow from Vietnam Singapore Industrial Park JV Co Ltd, for US$204,000, is located in the township of Binh Duong, about 40km from Ho Chi Minh City.

The lease will expire in 2055. The construction of the RM2.1mil factory, which includes a gas decanting plant, will enable the company to service its customers from Vietnam in a more effective and efficient manner, Greenyield added. — Bernama

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