Hong Kong-based toolmaker VEM Tooling (Shenzhen) has opened a mould making facility in Thailand because it says it sees opportunities in that country’s automotive sector
VEM, which is owned by German entrepreneur Mark Weinmann, opened the facility in Rayong, Thailand, in late 2008 because it was seeing increasing orders from that country’s automotive sector but found a lack of mould makers there, said Jeffrey Carroll, vice-president of sales and engineering in the firm’s New Jersey office. “There are so many tool builders in Shenzhen but in Thailand there are not a lot,” he said. The company employs 65 people at a 50,000 square foot Rayong plant, which is focused on large part mould making. Global automakers, including Ford and General Motors, have factories near the company’s Rayong plant. VEM employs about 200 at its Chinese mould making and electronics assembly plant in Shenzhen, Guangdong province, with about 60% of those tools exported to North America and Europe.