Germany's Bosch Ltd. (500530.BY) said on Monday that it will invest 60 million euros ($71.3 million) to expand its pushbelt factory in Vietnam.
The pushbelts manufactured at the plant are used in the production of continuously variable transmissions, the company said, which work without any fixed shifting points.
"Demand in Asian cities is rising more and more, as this kind of transmission is suited to stop-and-go traffic," Bosch said.
The company also said it is opening a EUR80-million plant for gasoline-injection systems in Thailand, following an 18-month construction phase.
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(END) Dow Jones Newswires
December 04, 2017 08:23 ET (13:23 GMT)