Japanese company opens subsidiary in Vietnam
Japan ’s energy firm Idemitsu Kosan Ltd, Co. has established a subsidiary in Vietnam for production and sales of lubricant oil for motorbikes, meeting the growing demand of this product, the company announced on Aug. 16.
The company has invested about $23.3 million on Idemitsu Lube Vietnam Co., which is located in the northern port city of Hai Phong . The plant, to be built on a six-hectare area, is expected to start operation in January 2014.
The company aims to sell around 20,000 kilolitres of lubricant oil in 2015, with an expected total turnover of $35 million.
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