U.S. thermal management technology developer Gentherm announced Tuesday it will open a new manufacturing facility in Vietnam next year in a bid to enlarge its production capacity in the fast growing Asia market.

The new facility will be close to the capital city of Hanoi, Gentherm said in a press release.

The plant will be approximately 20,500 square meters in size and is tentatively scheduled to open in the fourth quarter of 2015, according to the document.

The Vietnam News Agency said the facility will be located in Duy Tien District of Ha Nam Province, about 60km from Hanoi.

The manufacturing plant will be dedicated to producing the full line of Gentherm seat comfort and industrial products, and is expected to provide jobs for up to 1,500 people, according to Gentherm.

The Ha Nam facility is being designed to accommodate the expansion and expected growth in the company's Asian operations, a key region for Gentherm, President and CEO Daniel R. Coker noted.

"Asia is the fastest growing region of the world, not only in the automotive market, but across all markets," Coker said in a statement.

"We already have an industry-leading presence in the Chinese, Korean and Japanese markets and our new footprint in Southeast Asia will serve to extend our presence across the rest of Asia.

“We believe Vietnam provides us with a competitive labor force and workplace environment to further pursue our ambitious growth plans in Asia, and elsewhere in the world."

The Vietnam facility is the second new manufacturing plant being developed by Gentherm. 

Last week, the company announced an intention to expand its production capacity in Europe by opening a new manufacturing facility in Macedonia.

Gentherm is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications.

Its automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated automotive interior systems, cable systems and other electronic devices.

Gentherm has more than 8,300 employees in facilities in the U.S., Germany, Canada, China, England, Hungary, Japan, Korea, Malta, Mexico, and Ukraine.

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