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China Plus One, Part 3: Inorsen Group, a Vietnam Success Story
July 3, 2025 | Manfred Huschka, Manfred Huschka Management Consulting (Shenzhen) Ltd.Estimated reading time: 1 minute
(Editor’s note: Part 1 explored “Does China Plus One Actually Work?” looking at manufacturing in China. Part 2, “Does China Plus One Really Make a Difference,” looked at how industrial regions benefit from investments outside of China and what each potentially means to both manufacturers and their customers.)
In recent years, Western OEMs have continued to push for China Plus One factories and the advancement of China’s Belt and Road Initiative (BRI). At present, there are two main modes for PCB companies to go global: building greenfield factories or through mergers and acquisitions (M&A). Thailand is currently the primary geographic choice to build greenfield factories, whereas, increasingly, mergers and acquisitions in Vietnam and Malaysia provide opportunities for companies to expand markets and acquire resources.
Not surprisingly, Chinese companies have become increasingly involved in international trade and overseas investment within the China Plus One framework. The Inorsen Group was one of the first PCB companies to invest in Vietnam.
The Inorsen Group has 125,000 m2 PCBs/month of capacity and manufactures double-sided plated through-hole (PTH), multilayer, flexible, rigid-flex PCBs, as well as RF PCBs, including PIM-tested PTFE PCBs. In 2019, Inorsen expanded to the Jiangsu Province as well as Vietnam, through the acquisition of the former SEWOO GLOBAL PCB factory, renamed Inorsen Vina CO., LTD. Located in the Phu Tho Province of Vietnam, Inorsen’s Vietnam facility has an annual output of 1.2 million m2 PCBs, primarily up to eight layers.
General Manager Xu Lidong (John Xu), who established the company in 2012 in Shenzhen, China, provides a detailed explanation for why he simultaneously expanded into Vietnam and China’s Jiangsu Province.
To read the interview, which originally appeared in the June 2025 PCB007 Magazine, click here.
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