HO CHI MINH CITY—Chinese polyurethane company Huafon Group set up an office in Ho Chi Minh City in December, its first office in Southeast Asia. It also has opened an office in Saint Louis, as well as sales subsidiaries in Turkey and Pakistan.
The Vietnam office "started a new chapter for Huafon's localized marketing efforts in the Asia Pacific region," the firm's website said. Vietnam has been Huafon's most significant market in Asia Pacific, said group vice president You Feihuang at the opening ceremony.
The new office will serve as a stronghold for services and communication in the region. It will support business in nearby countries such as Thailand, Myanmar, Indonesia and Malaysia, You added.
Huafon claims to be a leading player in the China market in segments such as TPU, PU elastane, adipic acid and polyester polyols. The group currently has 12,000 employees and generated $4.7 billion in revenue in 2017.