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HONG KONG - Millennium Group International Holdings Limited (NASDAQ:MGIH), a paper-based packaging solutions supplier with a market capitalization of $18.6 million, announced Monday that its new manufacturing facility in Vietnam has officially commenced operations following a successful trial run in January 2025. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for this expansion.
Located in Hung Yen Province, the facility is equipped to manufacture color boxes and packaging for sports products, electronics, toys and consumer goods. The plant features advanced machinery and an intelligent water and power monitoring system that tracks resource usage in real time. This expansion comes as the company maintains healthy liquidity with a current ratio of 2.14, indicating strong short-term financial stability.
"With years of experience providing supply chain solutions in Vietnam, establishing a production facility locally allows us to better serve domestic and international customers," said Matthew Lai, Chairman of Millennium, in a press release statement. The company’s stock has shown positive momentum with a 9.27% return year-to-date, and InvestingPro analysis suggests the stock is currently trading below its Fair Value. Subscribers can access 4 additional exclusive ProTips and comprehensive financial metrics.
The new facility represents an expansion of Millennium’s production capacity and strengthens its global supply chain capabilities. The company indicated the Vietnam operation will maintain its high-yield offset printing standards while improving production efficiency.
Ray Lai, Chief Executive Officer of Millennium, described the launch as "an important milestone in achieving our long-term strategic vision."
The Vietnam expansion aligns with strategic plans outlined during the company’s initial public offering in April 2023. Millennium Group, founded in 1978, maintains operations in Hong Kong, China, and now Vietnam, serving customers across Asia, Australia, the United States, and European markets.
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