Coteccons acquired all capital contributions of two aluminum, glass and electromechanical enterprises with experience in airport and public transport construction.
Coteccons Construction Joint Stock Company (CTD) has just completed the transaction procedures to acquire 100% of the capital contribution of Sinh Nam Metal Vietnam Co., Ltd. and UG Vietnam Mechanical and Electrical Co., Ltd. (UG M&E). Both are foreign-invested enterprises and have participated in the field of infrastructure construction.
Sinh Nam Metal is a company specializing in providing design of aluminum and glass facade systems, fabrication, installation and project management services for medium and high-end projects. The company has a 10,000 m2 factory with a capacity of 300 m2 of windows and doors, 100-150 m2 of aluminum and glass facades, and 200-300 m2 of panels per day. In addition to apartment and hotel projects, Sinh Nam Metal has constructed indoor glass walls, doors and spider glass for Noi Bai airport.
UG M&E Vietnam has more than 10 years of experience in the field of mechanical and electrical contractors such as construction and installation of air conditioning systems, electrical systems, fire protection systems, water supply and drainage systems... In addition to constructing office, commercial and residential real estate projects, the parent company in Singapore participates in the East Coast Integrated Depot integrating three MRT train lines - Downtown line, East-West line and Thomson-East Coast line, as well as buses at Changi.
In the last quarter of last year, Coteccons announced that it had acquired a company in the same industry and another in the electromechanical industry. The purpose was to expand CTD's operations, increase revenue sources and enhance its brand in the market.
Diversifying revenue sources was one of three major issues identified by the board of directors at last year's annual meeting. Chairman of the Board Bolat Duisenov said it was a must, but results would not come immediately and would take time.
After failing to win the VND35 trillion bid for the Long Thanh airport terminal, Coteccons still wants to participate in the infrastructure construction sector including airports, highways, road traffic routes, urban railways and many other public projects. Coteccons is studying to participate and only focuses on large-scale projects.
CTD's goal is to find a foothold in the infrastructure segment, similar to its position in the civil and industrial segments. Mr. Bolat said that it will be necessary to wait until the second quarter of 2024-II/2025 for the results of the infrastructure segment to be recorded, depending on the general development situation of public investment in Vietnam.
Siddhartha
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