Essentra Components Increases its Dedication to Vietnam

Essentra Components, a manufacturer and distributor of industrial components backed by the UK, announced on October 11 its plans to strengthen its presence in the Vietnamese market. This strategic move aligns with the global trend of major conglomerates choosing Vietnam as a key investment and manufacturing hub due to its advantageous geographical location and its 17 free trade agreements (FTAs) with countries in Europe and the Americas.

Essentra Components currently collaborates with over 82,000 clients worldwide. The industrial components manufacturing sector in Vietnam is projected to grow by 6.6% in 2023. Prominent companies like Apple and LEGO have already established their primary manufacturing facilities in Vietnam, investing billions of USD. Following suit, Essentra Components is actively strategizing to further penetrate this promising market.

The company, a global leader in plastic injection molded, vinyl dip molded, and metal components, prioritizes customer satisfaction by operating in 29 countries across 4 continents through 14 manufacturing facilities, 34 distribution centers, and 40 sales and service locations. It is worth noting that Essentra Components has been present in Vietnam since 2022, recognizing its strategic importance in their supply chain.

Scott Fawcett, CEO of Essentra Components, explained the rationale behind this move, stating, “Manufacturers are increasingly investing in new markets to diversify their supply sources and reduce reliance on a single market. They require supply partners that offer products and services meeting global standards. Our entry into the Vietnamese market addresses this challenge, ensuring high-quality service that aligns with the needs and aspirations of our clients.”