Vietnam Ceramic Tile Plant Breaks Ground

Ha Tay, Vietnam, December 21, 2007 — Style Stone joint venture company has begun construction of a $220 million ceramic tile plant in Bac Phu Cat IZ, in the northern province of Ha Tay.

When completed the plant should produce 4 million square meters of tile annually.

The first of four production lines is scheduled to be operational in the fourth quarter of next year at a cost of $56 million. The plant will be fully operational by 2011.

"The finished products are expected to satisfy the growing needs of domestic and foreign customers in Australia, the USA, EU and some African countries," said the company’s president, Ho Xuan Nam.

Style Stone is a joint venture between Vicostone JSC – part of Viet Nam Construction and Import-Export Corp (Vinaconex) – and WK Marble and Granite PTY of Australia with an investment ratio of 35 and 65 per cent, respectively. — VNS