ODIM celebrates opening of U.S. $20 million facility in Vietnam

Vung Tau, Vietnam: 26th October, 2009: ODIM today celebrates the opening of its new USD $20 million production facility in Vung Tau, Vietnam.

This investment is in line with ODIM’s existing strategy of technological leadership with automated handling solutions in those parts of the value chain which contribute most to value creation in the group. At the same time, this decision represents a good, long-term and flexible solution to ODIM’s capacity challenges, on competitive terms.

“This will secure our long-term growth opportunities in a region with competitive terms,” says acting chief executive Arild Hatløy, who participated in the celebration of the opening the new ODIM facility in Vung Tau today. “Together with our existing network, this solution will give us considerable flexibility in utilising expertise, our product mix and making deliveries to the benefit of our customers.”

ODIM ranks today as a global technology leader with safe and automated handling solutions for the international offshore and naval markets.

“With lower production costs, a talented young work force and a growing economy, Vietnam is an ideal country to expand ODIM’s growing network throughout Asia,” said Torbjorn Hovden, Managing Director, ODIM Vietnam. “The new state of the art facility marks ODIM’s strong commitment to building a long term and successful operation, not only in Vietnam but also in the Asian region.

“We have chosen the term “Deep Knowledge” to describe our company and our expertise, firstly we have detailed knowledge of automated handling systems and secondly we obtain deep knowledge of each new market we enter by relying on our international network combined with the local workforce. We are happy to say that knowledge now comes from 100 committed local workers now employed at our new facility,” Mr. Hovden concluded.

All new systems and technology solutions delivered by ODIM are developed on the basis of close long term relations with customers. Combined into integrated and automated handling systems, these products meet customer requirements for efficiency in complex operations. Through broad and thorough understanding of the customers business, ODIM develops solutions which provide the customer with substantial efficiency gains in their operations.

With offices in China, Singapore, Canada, USA and Norway, ODIM’s new 12,500 square meter facility located in Vung Tau is the company’s first venture into the Vietnamese market.