Hong Kong toolmaker opens Thailand plant

Hong Kong-based toolmaker VEM Tooling (Shenzhen) Co. Ltd. has opened a mold making facility in Thailand as it views lucrative opportunities in the country's automotive sector. VEM, owned by German entrepreneur Mark Weinmann, opened the facility in Rayong, Thailand, in late 2008 due to rising orders from Thailand's automotive sector but found a lack of mold makers there. Global automakers, including Ford Motor Co. and General Motors, have factories near the company's Rayong plant. VEM has 200 employees at its mold making and electronics assembly plant in Shenzhen, with 60% of output exported to North America and Europe. www.vem-tooling.comAdidas Adilette Slides