Shin-Etsu Chemicals sets up two companies in Vietnam

Shin-Etsu Chemicals sets up two companies in Vietnam

2:15 AM, 24th January 2012
Shin-Etsu Chemicals sets up two companies in Vietnam

TOKYO, JAPAN: Shin-Etsu Chemical Co Ltd has established its first two Shin-Etsu Group companies in the Socialist Republic of Vietnam, Shin-Etsu Electronics Materials Vietnam Co Ltd for the manufacturing of silicone-based materials for high-brightness LED packaging and Shin-Etsu Magnetic Materials Vietnam Co Ltd for the separation and refinement of rare earths, which are the main raw materials of rare earth magnets.

The total investment amount for setting up both companies is ¥5 billion.The former company is scheduled to start operations in March 2013 and the latter company in February 2013. This is the first time Shin-Etsu Group is setting up production bases in Vietnam. By having production bases in Vietnam, Shin-Etsu can take advantage of the demand in Vietnam and its neighboring countries where economic growth is also expected in the future.

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