BAC NINH (VNS)— The Italian Ariston Thermo Group began the construction of a US$18 million plant in northern Bac Ninh Province yesterday, its first plant in Viet Nam and the second largest one in Asia.
"Ariston plans to have 80 per cent of its business come from high efficiency and renewable solutions by 2020," said General Director of Ariston Thermo Viet Nam Stefano Cartoni. "The new plant, therefore, will lay a solid foundation for the Group to achieve its vision and mission in the Viet Nam market."
Located on a 5-ha area of the province's Tien Son Industrial Park. the plant is expected to come into operation in February 2014 with a capacity of 1 million products per year, mainly supplying Viet Nam and the Southeast Asian markets.
Employing advanced technology such as an Italian water heater production line and on-site waste water treatment system, the plant is expected to shorten the product development and launch stages in order to meet the increasing demand for thermic comfort in Viet Nam.-VNS