Utilizing Vietnam's Production Cost Advantage to Drive Higher Business Growth
TAIPEI, Taiwan, Feb. 16, 2011 /PRNewswire-Asia/ -- MiTAC Precision Technology Corporation, an international supplier of specialized plastic and metal mechanical parts, announced today that it is planning to expand the production scale of its plants in Vietnam over the short term, increase the supply rate in this plant area, and thus raise MiTAC Precision’s competiveness through lower-costing production in Vietnam.
MiTAC Precision said that, with labor costs in China having risen greatly over the recent years and the labor shortage in the coastal regions becoming increasingly serious, the quality of production aspects has been affected. Compared to China and neighboring countries, Vietnam has relatively lower manufacturing costs, cheaper electricity and a stable labor supply, with labor wages being merely half of that in China. In contrast to the still appreciating reminbi, the depreciation of the Vietnamese dong is more favorable for the export trade and has already attracted many foreign investors to set up plants over there or divert purchase orders to Vietnam. In the future, MiTAC Precision’s Vietnamese plants will not only have expanded production capacity, but will also have a range of products and services that is more diversified, which will varying manufacturing processes for plastic and metal mechanical parts that will meet the needs of customers in a one-stop location, and comprehensively raise service quality for customers.
MiTAC Precision’s Vietnamese plants were established in Hanoi, Vietnam in 2006, they provide services for plastic and metal mechanical parts, and their main customers are well-known international printer brands; after the expansion of the production line in the future, they will begin to supply mechanical parts for consumer electronic products such as notebook computers, game consoles and cameras. And Waffer Precision Metallic Technologies (Changshu) Co., Ltd (referred to as Waffer Changshu), a company under its banner that specializes in the production of high precision automotive parts , had also acquired land in Vietnam last year for the building of a second plant. The plant is expected to be completed and opened in the middle of this year, and will begin production to support Waffer Precision Changshu’s lack of production capacity at its Chinese plants and concurrently bring in more new customer resources and orders.
As a supplier of world-class specialized mechanical parts and components, MiTAC Precision’s primary business involves tooling, mold designing, die-casting, plastic injection, metal stamping, coating, printing and late-stage assembly for plastic and metal mechanical parts and components; it is able to provide a complete mechanical parts solution from the tooling to the production end; its service range covers markets from 3C consumer electronic products and mechanical products for industrial applications, to high precision automotive parts, and it possesses rich experience in terms of providing services to world-class brands and major manufacturers. MiTAC Precision has a strong R&D engineering team that is able to customize according to the differing needs of customers, providing complete product design, rapid manufacturing capabilities, and high quality products and service performance. For more information on MiTAC Precision, please refer to MiTAC Precision’sofficial website www.mitacmpt.com
Mitac Precision Technology Vietnam Co., Ltd.