DEEP C Industrial Zone in the northern city of Hai Phong (Photo: Le Tien)

The company has invested 61 million USD in a 70,000-square-meter plant to create new production capacity in Asia, one of the world’s fastest-growing markets. This is part of Tesa's strategy to expand its local presence and shorten routes to customers and suppliers.

Construction is expected to be completed in the first quarter of 2023, followed by initial commissioning and testing. The plant will produce 40 million square meters of adhesive tape per year.

While attending the ground breaking ceremony virtually, Dr. Norman Goldberg, CEO of Tesa SE, said that the Asian adhesive tape market is experiencing very dynamic development, which Tesa will take advantage of.