Hanwha Techwin has selected about 100,000 square meters of land near Hanoi, Vietnam to construct a plant to manufacture aircraft engine parts and is requesting the approval of its investment from the Vietnamese government. If approved, the company will start the construction of a plant in August and operate the plant beginning in the second half of 2018. The plant size is about 60,000㎡, which is about eight times the size of a regular football field.
Hanwha Techwin is planning to expand its sales of civilian aircraft engine parts to about 1 trillion won (US$900 million), which is the top level in the aircraft parts processing industry, by 2025 by expanding its engine parts production capacity through the establishment of overseas plants.
Hanwha Techwin is growing the volume of its engine parts business by winning large-scale parts orders from world-class aircraft engine manufacturers such as GE, Pratt & Whitney (P&W) and Rolls-Royce.
As a result, Hanwha Techwin selected Vietnam as a production base with a nice logistics environment and high cost competitiveness among many candidate regions by strategically studying the feasibility of a plan for the establishment of an overseas engine parts manufacturing factory,
"Aircraft engine parts makers such as Dynamic Precision, Barns and Magellan are also expanding their production capacity by constructing manufacturing factories at home and abroad," said an official of Hanwha Techwin. "In the future, based on its technological capabilities, Changwon Factory will serve as a production base for high-value-added products, providing technical support to the factory in Vietnam. The Vietnamese base will take charge of production of products that require price competitiveness by utilizing Changwon Factory’s superior technology capabilities and business experience."