Synopex will acquire a factory in Vietnam previous owned by the now defunct Flexcom, the company said on Thursday.
The company said it signed the contract to acquire the factory with Woori Bank Vietnam and Vietnam TP Bank. The factory was being auctioned by its creditors.
The factory, dubbed Flecom Factory 1, consists of a 17,631 square-meters two-story facility and 33,000 square-meters of land.
Synopex will use the factory to expand its production capacity for flexible printed circuit boards (FPCB) and board assembly.
The company plans to make FPCB for batteries and display for one its new clients. The client was only at most two minutes drive away, the company said.
It will also make filters and car components there, Synopex said.
Synopex currently has facilities in Hanoi and Bac Ninh but is combining them to Bac Ninh.