Acquisition of a 2nd production site
The papers have been signed: a 6500 square feet manufacturing facility has been acquired in Binh Chanh, 25 km from Ho Chi Minh City, in Vietnam.
This new site will add significant production and assembly capacity. It allows the company to diversify its geographical footprint and offer new services to complement our manufacturing services in China.
A team of 6 employees was quickly hired to start the assembly and testing of a new project for a client in the USA in the new facility.
The site is expected to operate at full capacity by early 2027.
The original Ho Chi Minh LR-TEK offices will remain as a Center of Excellence for our administrative services: Engineering, account managers, Marketing, etc. This site now employs 45 people.