BINH DUONG PROVINCE, VIETNAM -- A Fittec International EMS site here has been torched and looted, the company said. The extent of the damage remains under investigation and operations are temporarily suspended until further notice.
The events came as local Vietnamese are showing their anger over Chinese drilling in disputed waters.
The company owns the factory at the Vietnam Singapore Industrial Park in southern Vietnam, which manufactures printed circuit board, electronics components and related parts. The Vietnam factory had 16 SMT lines and a production placement capacity of 24.3 billion chips per year, representing approximately 24% of the company's total production capacity.
According to the company the site generated revenues for the six months ended Dec. 31 of HK$59.2 million ($7.64 million), about 11% of the company's overall sales for the period.
"Based on the company’s best available information, the Vietnam Factory was torched and looted by rioters. As at the date of this announcement, the company could not estimate the loss caused by the riot as anti-China protests and riots continue to be carried out in and around [the park]."
Hong Kong-based Fittec has six production sites, most of which are in China, and 2013 sales of 112.1 million ($144.6 million).