Gerald Bottero, president and CEO of Hoya Vision Care, who last week met high-ranking Ministry of Planning and Investment officials to deliver the company’s detailed project plan, said that the $116 million project was the Japanese group’s second in Vietnam. Hoya Lens Vietnam, in Binh Duong province’s Vietnam-Singapore Industrial Park II, will be phased into three stages with the first one starting construction in July this year and producing 22 million semi-finished lenses per year.
The second phase scheduled for 2010 will have similar annual production capacity and in 2011 4.8 million pieces of finished lenses per year will be produced. All of the Hoya Lens Vietnam’s products will be supplied to Hoya Vision Care’s corporate customers and laboratories around the world. Bottero told Vietnam Investment Review that Hoya Vietnam would seek an opportunity to retail the products in Vietnam as soon as its third phase production became operational.
„We choose Vietnam to transfer our high-value added lenses bases and laboratories globally here for the country’s attractive business environment and good supply of well-educated workers. The foremost reason is that we already have the successful Hoya Glass Disk Vietnam here,” Bottero said. Hoya Vision Care operates two factories in Thailand and one in China, which produce a combined output of 50 million lenses per year, and one in Hungary. „Vietnam’s investment policies are more attractive than Thailand’s while the nation’s infrastructure facilities including power supply and transport routes are better than in China,” Bottero said.
Hoya eyeglass lenses now have a 45% market share in Japan and 14% of the global market, making it the top lense supplier in Japan and number three in the world. Hoya Glass Disk Vietnam was established in November 2004 in Hanoi’s Thang Long Industrial Park. The company’s $230 million facility, which produces glass disks for hard disk drives, currently employs 2,750 workers. Its staff will later increase to 5,500. Bottero said that after Hoya Vision Care and Hoya Electro-Optics, other divisions of Hoya Corporation are also seeking ways to establish their presence in Vietnam. (vir.com.vn)
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
