Lego A/S will capitalize USD 1 billion in a new-fangled factory in Vietnam to adhere to the maturing demand in Asia and aid the globe’s biggest toymaker to accomplish its goals of carbon-neutral operations by 2022.
Lego to build a new-fangled Vietnamese factory
The investment is inclusive of solar energy generation and will birth 4,000 jobs over the next 15 years at the site situated close to Ho Chi Minh City, the Danish firm stated in a statement on 8th December 2021 (Wednesday).
The site is dubbed to be Lego’s sixth production spot, adding to the prevalent facilities in Denmark, the Czech Republic, Mexico, Hungary, and China. The producer of the emblematic building blocks attested in September 2021 that the firm’s profit premeditated for the first half of its fiscal year more than doubled as consumers depended on its products to amuse their stuck-at-home children.
Lego is also occupied with working on substitutes to oil-based plastics in its building blocks. It is strategizing to diminish absolute carbon emissions by 37% by 2032, by also encompassing those from its supply chain.
The edifice in Vietnam is estimated to commence in H2 of 2022 and the production is due to embark in 2024, Lego stated. The firm will collaborate with local authorities to plant 50,000 trees in Vietnam to reimburse the flora that was eliminated during construction.
The term ‘Lego’ is an acronym of the two Danish words – ‘leg godt’, which translates to ‘play well.’ The term forms the ideals of the company.
The Lego Group was conceived in 1932 by Ole Kirk Kristiansen. The firm has been passed down from father to son and is now possessed by Kjeld Kirk Kristiansen, the grandchild of the creator of the firm.
Over the past 90 years, the firm has traversed a journey of successes. What began in a small carpenter’s workshop is today a modern and international business enterprise that is one of the globe’s biggest manufacturers of toys.
The Lego brick is one of the firm’s most essential products. The firm’s products have been subjected to extensive developments over the past several years – however, the original Lego brick outline has been retained.
The brick in its present arrangement was revealed in 1958. The interlacing principle along with its tubes allows it to be a unique product that delivers unlimited building potentials. It is only a matter of enhancing the imagination and allowing a colossal range of creative ideas to birth via play.