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LS Cable & System Asia, a subsidiary of South Korea-based cable producer LS Cable, said today that it has increased capacity at its Vietnam plant by 3.
7 times
as a result of its efforts to expand its market share in the Southeast Asian market.
The South Korean company said it has invested 10 billion won ($8.
8 million) in local subsidiary LS-VINA, which now produces 100,000 tons of cable materials a year, up from 27,000 tons
in the past.
That's about half the 200,000 tons of cable material Southeast Asian countries need each year, enough to make 60,000 kilometers of cable that can circle the globe 1.
5 times
.
LS Cable said the increase in capacity would allow it to better meet the country's own needs
.
It also allows companies to export excess cable material to other Southeast Asian countries
.
"With the completion of the investment, the company expects to accelerate its growth in the future," said
Kwon Young-il, CEO of LS C&S Asia.
He noted that the company completed the expansion of fiber optic and medium-voltage cable production last year, which will contribute to stable expansion
in the future.
LS Cable & System Asia, a subsidiary of South Korea-based cable producer LS Cable, said today that it has increased capacity at its Vietnam plant by 3.
7 times
as a result of its efforts to expand its market share in the Southeast Asian market.
The South Korean company said it has invested 10 billion won ($8.
8 million) in local subsidiary LS-VINA, which now produces 100,000 tons of cable materials a year, up from 27,000 tons
in the past.
That's about half the 200,000 tons of cable material Southeast Asian countries need each year, enough to make 60,000 kilometers of cable that can circle the globe 1.
5 times
.
LS Cable said the increase in capacity would allow it to better meet the country's own needs
.
It also allows companies to export excess cable material to other Southeast Asian countries
.
"With the completion of the investment, the company expects to accelerate its growth in the future," said
Kwon Young-il, CEO of LS C&S Asia.
He noted that the company completed the expansion of fiber optic and medium-voltage cable production last year, which will contribute to stable expansion
in the future.
