Wireless devices project third largest of Ace Technologies.
The Ha Nam Provincial People’s Committee has issued an investment license for a factory of the Ace Technologies Corp. from South Korea to produce wireless devices.
The project has investment capital of $60 million with the factory being an area of 120,000 sq m at the Dong Van II Industrial Park. It will specialize in producing wireless antenna stations for smartphones and frequency filters for TVs, at a scale of 300,000 products each year, and will begin operations after nine months.
According to Mr. Gwang Young Koo, Chairman of Ace Technologies, once in stable operations the plant is expected to earn revenue of $70 million per year, pay corporate income tax of about $1 million, and create 500 jobs. “Ace Technologies hope to make the plant become the group’s third largest, contributing to revenue of $1 billion per year for the group as a whole,” he said.
Speaking at the issuing ceremony, Mr. Mai Tien Dung, Secretary of the Ha Nam Provincial People’s Committee, said that the construction of the Ace Technologies factory is consistent with the province’s policy of attracting businesses using high-technology and those involved in mechanical engineering. The province will provide more favorable conditions for business activities, in particular implementing ten commitments to investors.
Established in 1980, Ace Technologies started off by developing the first car phone antenna and has since grown into a professional wireless communications equipment parts supplier, providing advanced RF and next generation antennas. Its growth comes with advancements in domestic wireless communications technologies.