Loctek issued an announcement stating that the company intends to establish a wholly-owned Sun company in Ho Chi Minh City, Vietnam through its wholly-owned subsidiary American Loctek Inc., and to invest in the construction of a factory in the name of the Vietnamese subsidiary. It plans to invest 20 million US dollars and the business scope of the Vietnamese subsidiary Mainly involved in the manufacturing, wholesale and retail of smart home products.

Loctek intends to purchase the land use rights of approximately 61,950 square meters in Longjiang Industrial Park, Xinli No.1 Company, Sin Phuoc County, Tien Giang Province, Vietnam, to meet the needs of Vietnamese subsidiary registration and future project development. American Loteck will sign an agreement with Longjiang Industrial Park on the purchase of land use rights.

Loctek said that the company’s plan to invest in the establishment of a manufacturing base in Vietnam this time is an important measure for the company to further deepen its global industrial layout, which will help meet the order needs of overseas customers in a timely manner.