Sumitomo Electric announced on Monday the firm established production and sales base for electronic parts in Vietnam. The new base will start production of polyimide tube for printer, flexible flat cable (FFC) and flexible print circuit (FPC) in June 2007. The subsidiary targets 1.6 billion yen of annual sales for fiscal 2007 ending March 2008 and 10 billion yen for fiscal 2009.The new production base, named Sumitomo Electric Interconnect Products (Vietnam), was established as a wholly owned subsidiary of Sumitomo Electric in September 2006 with US$ 7 million of capital. The subsidiary is located in an industrial park in Bacninh Region of Vietnam with 19,000 square meters of land and 10,000 square meters of factory buildings. There work 1,800 employees.Sumitomo Electric Group established a productive base for electronic products in Vietnam for the first time. The Group currently produces polyimide tube for office automation equipment in China, FFC in China and Malaysia and FPC in China and Philippine.
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