Yanmar Establishes Boat-manufacturing Subsidiary in Vietnam
June 15, 2015
Yanmar Co., Ltd.
On June 2, Yanmar established a new subsidiary, Yanmar Boat Manufacturing Vietnam Co., Ltd. in Qui Nhơn, a coastal city situated in Bình Định Province, central Vietnam. The nation has seen high levels of economic growth in recent years, and with Yanmar’s many years of experience operating in Japan’s fishing industry as a base, it aims to tackle the issues that the Vietnamese market faces with its unique solutions and expertise.
Background and aim:
Vietnam is the fifth largest exporter of fishery commodities in the world. This represents a significant share of the world market, and also constitutes as a major industry for the country. Over 90,000 fishing boats operate in Vietnam, but almost all are made of wood, with low levels of fuel efficiency and speed, resulting in a considerable impact on the environment. Improving the way catches are handled on board is also a pressing issue, and Yanmar is bringing its expertise to tackle this in an efficient manner.
Recognizing these areas for improvement, Yanmar began offering its unique solutions to Vietnam last year when it started a project for the modernization of tuna boats. Core undertakings involved construction of an FRP boat to familiarize local users with the product and operation of this type, also helping achieve improved fuel efficiency. In addition, enhanced catching techniques were introduced along with the establishment of freshness and quality management standards for tuna.
Establishing the subsidiary means that Yanmar will be able to intensify these activities at a much faster pace. This extends to how fast management can facilitate change, how quickly Yanmar can provide its one-of-a-kind solutions, accelerating awareness of its comprehensive range of second-to-none products and services.
Outline of the new subsidiary:
- Company name: Yanmar Boat Manufacturing Vietnam Co., Ltd.
- President: Yukio Kikuchi
- Location: Qui Nhơn, Bình Định Province, Vietnam
- Business scope: Building fuel-efficient fiber-reinforced plastic fishing boats
- Established: June 2, 2015
- Capital: 2 million USD (approx. 250 million JPY)
- Employees: 100 (Midterm Plan)
- Sales volume: Approx. 16 million USD (approx. 2 billion JPY) Note: Midterm Plan estimate
- Note: Information contained in News Releases is valid at the time of publication and may differ from the most recently available information.
Public Relations Group
General Affairs Div., Yanmar Co., Ltd.