Proposed Expansion for Alltech Vietnam in 2006
[Vietnam] - A growing demand for Alltech's natural products in the Asia-Pacific region has instigated the proposed development of a new facility in Vietnam. At present, the Asia-Pacific region represents 29% of sales for Alltech and is the fastest growing region for Alltech, growing at a rate of over 40% per annum for the last 3 years.
Alltech will invest US$5 million in the production facility and support services which is expected to open mid 2006. The production plant will be 1,500 square metres and it will have the capacity for manufacturing and packaging in a size relative to both the feed industry and farm sector and their growing needs.
Dr. Pearse Lyons, President of Alltech, explained that, "We are a global company committed to having a local presence for each one of our customers". Steve Bourne (Vice President Asia Pacific) added that, "Alltech intends to establish offices over the next eighteen months in Hanoi, Nha Trang and South of Ho Chi Minh to provide more local support in line with regional expansion plans".