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Techtronic Industries to invest an additional $650 million in Vietnam

HANOI (Reuters) - Power tool manufacturer Techtronic Industries will invest an additional $650 million in Vietnam to produce cordless appliances, the Vietnamese government said on Tuesday.

Construction of the new plant in Ho Chi Minh City will be completed by the third quarter of 2021, the government said in a statement.

The company, which has a factory in the neighbouring province of Binh Duong, will also develop a research and development centre in Vietnam employing 2,000 researchers and engineers, the government added.

Reporting by Khanh Vu; Editing by Edmund Blair

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