Huntsman Corporation, a global manufacturer and marketer of specialty chemicals, has recently opened a formulations manufacturing facility in Vietnam, located at Amata Vietnam Industrial Park, next to the Ho Chi Minh City. Sources claim that the multi-purpose facility is a greenfield investment in one of fastest growing countries in the Asia-Pacific.

The facility will be home to Huntsman’s Polyurethanes & Advanced Materials businesses in the country, along with the manufacturing plant and R&D capabilities. It will also consist of commercial offices, a technical service center as well as a warehouse and distribution space.

A press release by Huntsman claims Tony Hankins, CEO for Huntsman’s Asia-Pacific business and President of the Polyurethanes business, to have stated that the company has experienced a double digit growth rate for Polyurethanes over a period of time, which is expected to continue further. The new Vietnam facility will be used to manufacture formulated systems for the automotive and footwear industry, simulated wood products for the furniture market and rigid insulation foams used in construction and cold chain applications, he added.

Hankins informed that these products will mostly be consumed by Vietnam markets and the rest of the stock will be exported to Cambodia. Supposedly, the facility will allow Huntsman to form effective collaborations with Vietnamese customers and help to reinforce its approach towards globalizing downstream bolt-on acquisitions.

The new facility marks the first investment to expand manufacturing outside China for the company’s Asia-Pacific business, mentioned Scott Wright, President for Huntsman’s Advanced Materials unit. The Vietnam plant will enable the company to serve customers throughout the ASEAN countries, by supplying high-quality electrical insulation, adhesives and coating solutions more efficiently, Wright continued.

For the record, besides the new plant Huntsman has a distribution warehouse at Long Binh-Dong Nai Province, in an inland container depot. Additionally, the company has a commercial office, warehouse and distribution center at a location in Hanoi, where it also offers technical services.