Joint venture to manufacture batteries for industry and the consumer market.
The joint venture between Singapore’s GP Batteries International Limited and Vietnam’s Hanoi Battery JSC (HABACO) received an investment license on December 11 to build a facility manufacturing batteries in Vietnam with total investment of $6 million.
“This is the first step in our company’s development in Vietnam,” Mr. Henry Leung, Director General of GP Batteries, was quoted as saying. “We commit to promoting all resources in implementing the project and look forward to the support of local authorities in the process of developing and completing the facility in the future.”
On an area of 29,379 sq m, the facility at the Hoa Mac Industrial Zone in northern Ha Nam province is expected to be completed within three years.
Its investment will be divided into two phases. The first, of $4 million, is to be completed in December 2016 and the second, worth $2 million, will be finished in December 2016.
Ha Nam has committed to all investors that electricity supply will be guaranteed, investment licenses will be issued within three days, infrastructure such as transport, electricity and water system to factories will be installed, high-quality human resources will be trained, “clean” land will be provided for building housing for workers, and security of facilities will be ensured.
Since its establishment under the Gold Peak Group form Hong Kong, GP Batteries has rapidly expanded to become one of the world’s major suppliers of primary and rechargeable batteries. It supplies an extensive range of batteries to original equipment manufacturers, leading battery companies, and the consumer retail market under its own GP brand name.
GP Batteries’ production facilities are located in Singapore, Hong Kong, China, Taiwan, and Malaysia, supported by marketing and trading offices spanning Asia, Europe, and North America. The Group currently employs about 5,900 people worldwide.
Founded in 1960, HABACO was formerly known as the Van Dien battery factory and changed its name to the Hanoi Battery JSC in March 2004. The company is now one of the largest battery suppliers in Vietnam.