Vingroup will produce core components for Medtronic’s Puritan Bennett 560 ventilator [Image courtesy of Medtronic]
When Medtronic (NYSE:MDT) announced in April that it had tapped Foxconn to manufacture ventilators at the Chinese company’s Wisconsin plant, then-Medtronic CEO Omar Ishrak said that Medtronic is also working with “major players” in Asia to expedite ventilator production.
This week, Vietnam’s largest conglomerate, Vingroup, announced that it had inked a deal for two of its companies — VinSmart and VinFast Manufacturing and Trading — to supply 50,000 ventilator parts to Fridley, Minn.-based Medtronic in the U.S. and Ireland over the next year. The deal went into effect in June, Vingroup said in a statement this week.
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