Teco Electric and Machinery Co (東元電機) yesterday launched a new plant in Vietnam’s Binh Duong Province that is expected to produce 200,000 small, premium efficiency motors this year and 300,000 next year.
The US$12 million plant in the My Phuoc Industrial Park, about 42km from Ho Chi Minh City, is to manufacture products mainly for the US, Southeast Asian, Australian and New Zealand markets, Teco said.
The facility also provides the company with an option to avoid tariffs amid an ongoing US-China trade dispute and is in line with the government’s New Southbound Policy, it said.
Photo: Lee Ching-hui, Taipei Times
“The My Phuoc factory, designed to environmentally friendly standards, is equipped with automated and smart production lines,” Teco chairwoman Sophia Chiu (邱純枝) said in a statement.
“This is the first time we have applied Internet of Things technology at our overseas plants, so that we can monitor the plant’s product quality, machine condition and management efficiency from Taiwan,” Chiu said.
The plant is a critical intelligent production base for Teco in Southeast Asia and the company plans to introduce a logistics control system and more advanced automation in the next few years, she said.
That plant, construction of which began in July last year, is the first phase of the Teco Vietnam Technology Park (越南東元科技工業園) project, the company said.
“A total of 150 companies will be able to move into the technology park after the whole project is completed in 2027,” it said.
A number of companies have been in talks about renting space in the park, it added.
Teco shares yesterday closed down 0.43 percent at NT$23.25 in Taipei trading.
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