Last updated: Monday, May 20, 2013
Export Mechanical Tool JSC: Resilience from PrivatisationPosted: Thursday, March 29, 2012
Founded in 1960 from its precursor, Medical Equipment Factory 1, over years of development, Export Mechanical Tool Joint Stock Company has asserted its reputation and brand in mechanical sector. Especially after privatization, the company has made great strides and become one of the most profitable units in Hanoi City.
Starting as a State enterprise initially producing medical equipment, when changing to produce and trade export mechanical tools, the Company faced many difficulties of capacity, facility, industrial level , technical and qualification management; apart from more demanding requirements for export products. Confronted with this situation, while gaining experience, the Company provided professional training for technical workers as well as invested in necessary equipment so that products can meet customers’ requirements such as mill CNC, cutter, automatic lathe, simulation for mould manufacturing, hot forging machines, induction heating machine using electricity instead of coal, uninterrupted technology line from stamp, bend, hot edge cutting to improve capacity of billet creation and save energy.
In 2001, Export Mechanical Tool Joint Stock Company privatized with 100 percent capital from labourers. Since then, the Company has seen clear changes in both quantity and quality. In 2001, the first year of privatization, the company’s turnover was only VND 43.2 billion, which then increased to VND 260 billion in 2008, to VND 280 billion in 2009, to VND 390 billion in 2010, and to VND 504 billion in 2011, 12 times as much as in 2001. The annual average growth in the past 8 years was 28 percent. Export turnover in the first 9 months of 2011 was USD 830,000 and in the whole year was USD 1.2 million.
From provision of only some products, so far, Export Mechanical Tool Joint Stock Company has produced and provided over 600 types of tools, spare parts, and auto and motorcycle components for customers such as HVN, Yamaha, Suzuki, Piaggio, Toyota, and Ford, with some requiring high sophistication for assembling of crucial motorcycle parts. The company’s technology and equipment are appreciated under international standards and issued Certificate ISO 9001:2008 on quality control system and ISO 14000:2004 on the environment by TuvNord Group.
At present, 85 percent of Export Mechanical Tool Company products are spare parts of motorcycles and automobiles, and 15 percent are mechanical tools, stainless steel household appliances for export to Europe and Japan. The Company is one of 41 enterprises whose key products are certified by Hanoi City People’s Committee and entitled with the award “Reputable Foreign Traded Brand” in 2009.
Besides, in recent time, the Company has started producing spare parts for automobiles for Honda, Toyota, Vinastar, and Ford, such as tool sets and lug wrenches of quality equal to that for export. To master production of automobile spare parts, the Company has invested in 2 big mills with capacity of 600 tonnes and 1,000 tonnes; 2 automatic bending machines of 3 dimensions; robot welding machine, automatic wire cutter, and stamping and bending machine. Since 2008, the Company has invested in 260 pieces of equipment with total value exceeding VND 100 billion.
Along with other enterprises in the city, to promote sustainable economic growth, Export Mechanical Tool Joint Stock Company has continuously expanded its network to become a trustworthy brand for customers and international partners.