to develop a factory manufacturing airbags and industrial fabric for automobile tires, aiming to capture a larger share of the domestic and international market.
Kolon Industries will rent a 42-hectare area in Becamex IDC’s expanded Bau Bang Industrial Park to construct the factory. The long-term investment plan has three phases. The first phase, with a total investment capital of $220 million, will be disbursed in the 2017-2018 period, the second phase will last until 2026 with $600 million. The $1 billion mark will be hit sometime after 2026.
The corporation plans to globalise its business lines in automotive materials, advanced materials, optical films, chemical and fashion production by increasing investment in high-value products.
Kolon Industries bring $1 billion plant to Binh Duong, Nov 24, 2016
Establishing its first nylon production factory in 1957, Kolon Industries is currently expanding operations into four major business divisions, namely industrial materials, chemical, electronic materials, and fashion. It currently has factories in South Korea, China, Indonesia, and Mexico.