Schaeffler invests 45 million Euros in new plant in Vietnam

          Schaeffler celebrated the inauguration of a new Greenfield plant at Bien Hoa City in Dong Nai province of Vietnam. The company has invested more than 45 million euros in building the modern manufacturing facility. With this investment, Schaeffler will create more than 300 additional jobs in the Dong Nai province. H.E. Dinh Quoc Thai, Chairman, Dong Nai Province People's Committee joined Georg F.W. Schaeffler, shareholder and chairman of Schaeffler Group and H.E. Andreas Siegel, German Consul General to celebrate the official opening in presence of government officials, customers, partners and other dignitaries.
          Mr. Schaeffler stated in his inaugural speech, "Vietnam was the very first location in South East Asia where Schaeffler invested to build local manufacturing capacity. There are many reasons for our continued commitment to Vietnam. It's strategic location in Asia, a well-diversified, stable and fast-growing economy with talented, well-educated, ambitious population are just few among them."
          Confidence in Vietnam's potential as an efficient production hub
          Mr. Martin Schreiber, President Industrial at Schaeffler Asia Pacific said during the ceremony, "The expansion of local manufacturing capacity demonstrates our confidence in Vietnam as an ideal production hub in the Asia Pacific region to serve regional and global customers with best-in-class bearing products and systems." Mr. Klaus Mueller, Chief Operating Officer at Schaeffler Asia Pacific added, "We consider this plant in Vietnam as one of the best performance and modern production facilities in our global network."
          The new facility, located at the Amata Industrial Zone in Bien Hoa City, about 50 kilometers from Ho Chi Minh City, will produce industrial bearings and components for a wide range of applications. Schaeffler first made an investment in Vietnam over 10 years ago when the company started local production of Tapered Roller Bearings (TRB), Radial Insert Ball Bearings (RIBB) and Steering Column Bearings (SCB) in Southeast Asia. With the new investment Schaeffler will increase production capacity of the existing product ranges and add new product lines for extended range of RIBB as well as the flagship product of Schaeffler Group – Needle Roller Bearings (NRB). 
          Made in Asia Pacific – for global customers
          The new plant has been developed on a modular concept with a total building area of 25,000 sqm in Phase 1. "We continue to grow our engineering competency and production footprint with the aim to deliver highest value from our products and solutions to customers in the region and around the world. This is the second major investment by Schaeffler to expand local manufacturing capacity in Asia Pacific. In 2016, we opened a new plant for automotive products in Thailand and today we are proud to celebrate the opening of this state-of-the-art facility for industrial products in Vietnam," Mr. Helmut Bode, CEO Schaeffler Asia Pacific said "We greatly appreciate the support of the Vietnamese government, our customers, suppliers and partners as Schaeffler takes another decisive step towards long-term, sustainable growth of our industrial business in the region," he added. 
          Products manufactured in Vietnam will be supplied to customers across a wide range of industry sectors including agriculture, construction and mining, power transmission, food processing, textile, paper, steel, cement and two-wheelers (motorcycles).
          Industry 4.0 to optimize manufacturing process
          The new plant is equipped with advanced production machinery and technologies in line with Schaeffler's commitment to maintain consistent quality standards worldwide. It is the first plant in Southeast Asia to apply the latest Industry 4.0 solutions developed by Schaeffler. There are 70 Schaeffler condition monitoring devices – SmartCheckTM – installed at key positions inside the plant. 
          Mr. Seunghun Park, Managing Director and Plant Manager Schaeffler Vietnam said "Development of manufacturing sector is a key priority of the Government of Vietnam. With access to highly skilled workforce and their commitment to deliver best-in-class quality products for our customers, Schaeffler Vietnam has proven to be an efficient production base for the company. In 2018, we achieved the milestone of continuously delivering products without a single quality complain from customers for over two years. Expansion of our production capacity gives us the confidence to achieve even higher standards of quality performance and customer satisfaction while contributing to the growth of the industrial sector in Vietnam," he added.

          About Schaeffler
          The Schaeffler Group is a globally active automotive and industrial supplier. By delivering high-precision components and systems in engine, transmission, and chassis applications, as well as rolling and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already shaping "Mobility for tomorrow" to a significant degree. The technology company generated sales of approximately 14.2 billion Euros in 2018. With around 92,500 employees, Schaeffler is one of the world's largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies. With more than 2,400 patent registrations in 2018, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office).