10:45 23/02/2023

J. Wagner to lease factory at HCMC export processing zone

Ngoc Lan

Wagner Group subsidiary to lease 8,500 sq m factory at Linh Trung I EPZ.

Photo: Savills
Photo: Savills

Germany’s J. Wagner GmbH signed a cooperation agreement on February 22 with Sepzone -Linh Trung to lease a factory with an area of 8,549 sq m at the Linh Trung I Export Processing Zone (EPZ) in Thu Duc City, Ho Chi Minh City.

J. Wagner GmbH is a subsidiary of the Wagner Group, an international manufacturer of equipment and systems for the application of powder and liquid coatings, paints, and other liquid materials. Its innovative products, technologies, and pioneering solutions are used in home improvements, commercial painting, and industrial finishings.

The deal emphasizes its dynamic expansion plans in Southeast Asia.

The Linh Trung I EPZ is a joint venture between the China Electricity Import-Export Co. Ltd from China and the Tan Thuan Industrial Development One Member Limited Liability Company from Vietnam. It caters to manufacturing, assembly, logistics, e-commerce, and high-value-added tenants looking for multi-level factories.

Mr. Frederic Biondi, General Manager of J. Wagner, said they carefully explored the industrial markets in Thailand, Malaysia, and Vietnam for the new plant. “We ultimately selected Vietnam because of its sustainable economic growth,” he added. “Sepzone - Linh Trung delivers high-quality infrastructure and a prime location only 20 minutes from downtown Ho Chi Minh City and the airport. They also supported us in applying for investment licenses.”

Mr. Le Hoang Minh, President of Sepzone - Linh Trung, said it is working on attracting diverse and modern tenants to the Linh Trung I EPZ. “Our project targets high-tech industries and is suited to companies like J. Wagner, which specialize in innovative coatings technology,” he said. “We hope that the entry of an esteemed company like J. Wagner will play a part in attracting other tenants in fields like electronics, informatics, mechanical engineering, precision mechanics, pharmaceuticals, and food processing.”

Savills brokered the factory lease. Mr. John Campbell, Associate Director and Head of Industrial Services at Savills Vietnam, said the partnership between J. Wagner and Sepzone - Linh Trung demonstrates the growing interest among European manufacturers in Vietnam since the signing of the EU-Vietnam Free Trade Agreement (EUVFTA).