HO CHI MINH CITY, VIETNAM — NIPPN Corp. is planning to establish a subsidiary in Vietnam and build a 4,300-tonne-per-year premix plant in Dong Nai Province, Vietnam.
The $13 million facility will produce various premixes for commercial use and is expected to start operations in 2027.
This is the fifth country into which NIPPN is expanding its operations. Vietnam had a gross domestic product growth rate of 5.5% in 2023 and the economy is expected to continue expanding.
The population has surpassed 100 million and the average age is the early 30s, NIPPN said.
NIPPN has steadily expanded its business in the ASEAN region, including a premix plant in Thailand in 2008 and a premix plant in Indonesia in 2023.
“By establishing a new plant in Vietnam, NIPPN will strengthen its supply system within the ASEAN region to ensure a more stable supply, and will also strengthen its business in Vietnam,” the company said.
The NIPPN subsidiary, NIPPN Vietnam Co. Ltd., also plans to open a sales office in Ho Chi Minh City.
Overseas businesses is one of the growth fields for NIPPN in its 2023-27 medium-term targets. It hopes to achieve 200% growth in international net sales over fiscal year 2024.
“With this new business development, NIPPN will further ensure its efforts to achieve its medium-term targets,” the company said.
NIPPN Corp., with headquarters in Tokyo, Japan, operates one of the country’s largest flour milling businesses.
