Cicor to double its production capacity in Vietnam
Cicor Group says it is taking another important step in the implementation of its growth strategy. The EMS provider says it will significantly expand its production capacities at its location in Thuan An City, Vietnam to meet increased demand.
Cicor was recently appointed as the first strategic supplier for electronics manufacturing by a major industrial technology manufacturer in the DACH region, leading to additional business as from 2023.
To realise this market growth, the EMS provider is expanding capacity at its site in Vietnam. The company states in a press release that it is acquiring an established electronics production facility in the immediate vicinity of the existing factory – thus doubling its production space in the Vietnam Singapore Industrial Park to around 14,000 square meters.
At the same time, Cicor is strengthening the Vietnam site by establishing an engineering team that will work in close coordination with the R&D team at the Bronschhofen, Switzerland site to meet the customer demand for the development of high-quality electronics.
The company says that the investment volume in the mid-single-digit million Swiss franc range will be financed within the regular investment budget. The site is scheduled to be operational in the fourth quarter of 2022.