Local Furniture Producer Builds US$2Mln Factory in Laos

Truong Thanh Furniture Corporation recently started building its factory in Secong province, Laos, with total investment of US$2 million and a total area of 100,000 sq.m with the aim of ensuring input material source for its production. This is the corporation’s seventh factory and first factory invested abroad which is expected to become operational in August 2006.

 

The corporation has built the sixth factory in July 2005 with total area of 22,000 sq.m in Tan Uyen district, Binh Duong province, and will be put into operation in March 2006. The factory is equipped with the latest technologies and machines in order to meet demands for high-quality furniture products in the large foreign markets of US, Europe, Japan and others.

 

With the export value of US$19 million in 2004, Truong Thanh furniture products have penetrated in almost continents in the world and hold a key position in the domestic market. At present, 95 per cent of its products are for export. From 2006, with the target to prevail in the local market and spend around 20 per cent of its capacity on manufacturing products for local consumption, Truong Thanh will introduce high-quality series of products through strategic distribution channels in each major area across the country. 

 

To prepare for a long-term business plan in the domestic market, the corporation will offer wholesale prices to retail customers.