Joint venture hydraulic company opens for business in Laos
Joint venture hydraulic company opens for business in Laos
TMC-Lao Assembly and Manufacturing Company Limited officially opened its doors in Vientiane on Monday, intending to fill a gap in the growing market for hydraulic machinery in Laos and the wider Asean region.
The company is a joint venture between Thailand's TMC Industrial Public Company Limited and Laos' SV Construction Company. The grand opening ceremony was attended by the Chairman of the Executive Committee, Mr Thaweemit Kamolmongkholsuk, and Director of SV Construction Company, Dr Khamsen Sisavong.
TMC Industrial Public Company's Vice Managing Director Ms Thabthim Kommongkhonsouk and Enterprise Registration and Management Department's Deputy Director, Mr Houmpheng Khamphasith, presided over the ceremony, alongside government officials and representatives from both companies.
The joint venture company has an initial investment of about 1.4 billion kip (5.7 million baht). It will supply assembly and manufacturing hydraulic equipment from hydraulic jacks and lifting cranes, to pallet jacks, hydraulic rams, vehicle hoists, floor cranes and hydraulic presses.
Its inventory of pressing machinery includes hydraulic c lapper die spotting presses, hydraulic special presses, hydraulic deep drawing presses, hydraulic die spotting presses, automation machines for interior materials, hydraulic trimming and bending presses, hydraulic hemming presses, and many other varieties.
As the Lao economy continues to grow, hydraulic equipment is increasingly necessary for industrial development both in Laos and to integrate with the Asean Economic Community and countries in the region.
Mr Thaweemit promised that with the opening of the TMC-Lao Assembly and Manufacturing Company, TMC Industrial Public Company, on behalf of its shareholders, would try to improve its products to meet demand.
The joint venture company is also being welcomed by Lao people and students with an interest in the assembly and manufacture of hydraulic equipment in Laos.
Meanwhile Dr Khamsen said that to ensure the company's expansion and the provision of better services, it will require the support of various sectors of government for its continued development.
TMC Industrial Public Company and SV Construction Company should cooperate closely in running the business and ensure their employees pay attention to the tasks, he said.
The company may build a processing factory on its site and also expand the business to other provinces in Laos if it proves to be successful, he added.
vientiane times
