VIGLACERA and Sinoma to establish a Joint Venture providing engineering services and manufacturing equipment in Vietnam
On December 19th, 2016, at the headquarters of Viglacera at No.1 Thang Long avenue, Hanoi, Viglacera Engineering & Construction JSC. (Viglacera) and Sinoma International Engineering Co.Ltd. (Sinoma) signed a cooperation agreement to establish a joint venture specializing in providing engineering services and manufacturing equipment. This joint venture will be located in Tien Hai – Thai Binh Industrial Park with an estimated total investment in equipment fabrication shop in Vietnam is $ 15 million.
Viglacera Engineering & Construction JSC and Sinoma International Engineering Co.Ltd. signed a cooperation agreement under the witness of the Board of Directors of Viglacera Corporation
With the aim of expanding activities in mechanical processing and equipment manufacturing for cement production industry and related technical services in Vietnam and regional markets in Southeast Asia, Viglacera and Sinoma jointly agreed to establish a joint venture in Thai Binh province.
The joint venture is expected to be located in Tien Hai – Thai Binh Industrial Park with construction area of about 4.66 ha and an estimated total investment in equipment fabrication shop of $ 15 million. The charter capital of the joint venture is $ 7.5 million, 70% of which will be contributed by Sinoma.
Board of Directors of Viglacera Corporation and the Board of Directors of Sinoma discussed development programs after the joint venture was established
Under the agreement, the joint venture will operate in these major sectors: manufacturing equipment and spare parts for cement production industry, developing production management of cement manufacturing plant, providing overhaul services, consulting technical innovations, consulting engineering and related services in the industry; Producing equipment and accessories in the industry of ceramic tiles, sanitary equipment, power generation, environmental, minerals, chemicals; Machining and fabricating equipment, spare parts and providing technical service for other industries based on actual market demand in Vietnam and Southeast Asia.
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Sinoma is a public listed company affiliated to China National Materials Group Corporation Ltd. which is subject to the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Sinoma possesses complete cement engineering industry chain, and its dry-processing technologies with independent intellectual property right are state-of-the-art and on a par with international level. Sinoma is managing several design institutes, construction companies and equipment manufacturers such as Sinoma Int. (Tianjin), Sinoma (Nanjing), Chengdu Design & Research Institute of Building Materials Industry Co., Ltd., Sinoma Technology & Equipment Group Co., Ltd., etc. With a workforce of more than 10,000 employees (40% engaged in managerial and technological works), Sinoma is currently one of the most biggest cement engineering system integrated service providers in the world. Up to now, Sinoma has approximately 140 cement production lines constructed or under construction in over 70 countries and regions as Spain, Italy, Russia, France, Saudi Arabia, Nigeria, UAE, India, Brazil, etc., and it has almost completed international market distribution. Sinoma has become a major service provider for international cement technology & equipment and engineering market, and the international market share has been rated No. 1 for many years in a row. SASAC has listed it as an example enterprise for state-owned enterprises going abroad. Sinoma becomes internationally reputable brand. Sinoma has won numerous awards since its establishment, among them including, National May Day Labor Honor, Advanced Team of State-owned Enterprises, Most Growing Enterprise, ...On March 25, 2013, Sinoma participated BRICS Business Council Meetings and Meeting with Five BRICS Heads of State, and was elected as the member of first session BRICS Business Council. |
