On February 9, which is the 30th day of Tet, Coteccons announced the completion of the transaction to acquire 100% capital contribution of two companies, namely Sinh Nam Metal Company and UG Vietnam Mechanical and Electrical Company.
The acquisition was also mentioned by Coteccons CEO, Mr. Vo Hoang Lam, in his message to the employees. “This year, UG M&E Vietnam and Sinh Nam Metal have joined us. These two companies are known for their long history, strong brand, experienced personnel, and talent in the fields of mechanical and electrical engineering and glass and aluminum. I believe that this will greatly contribute to strengthening the capacity and enhancing the talent pool of Coteccons and Unicons. I am extremely excited about this synergy because it provides us, comrades with shared dreams and aspirations, with a special opportunity to participate together in building a unique and prominent Vietnamese brand, not only recognized in Vietnam but also globally,” he said.
In his message sent on the last day of the year, CEO Vo Hoang Lam also mentioned the reality of construction with the phrase “FRAGILE SUPERPOWER.”
Coteccons CEO – Vo Hoang Lam
“The growth figures in the financial report, profits, awarded projects, and grand groundbreaking ceremonies, have created the label ‘superpower’ for the appearance of construction contractors. However, the construction industry, in general, is still trapped in a cycle of ‘winning-losing,’ ‘making progress-falling behind,’ and ‘victory-risks,'” he said.
“What bothers us the most is the situation of being ‘misunderstood’ or ‘misled’ by the media, the word of mouth (or rumors) about the image of a particular contractor, which is not uncommon in an overloaded information context and the mass media increasingly ‘lacking stories’ to tell, making the ‘invisible’ methods in large-scale bidding and projects more fierce. Coteccons’ reputation has also been and may continue to be affected if the situation of ‘selling rumors and doubts’ and ‘stirring muddy waters’ by new emerging competitors in the construction industry persists. I believe everyone is trying to ‘stand on the shoulders’ of Coteccons’ past notoriety to ascend in their own way. This will be our ‘fragile’ point when we choose Integrity as our value to not respond in their way,” Mr. Vo Hoang Lam said in his letter to employees on the 30th day of Tet.
Coteccons’ management believes that the spirit of “Make It Happen” and the feeling of “Fragile” are opportunities to create a premise for the company to complete a historical phase and be ready for a new chapter. This spirit will be associated with Coteccons’ current priorities, including: Continuing to focus on customers and Repeat Sales as clear and important evidence of the quality from Coteccons and Unicons; Risk management, protecting the image and reputation of the brand;…
“And finally, what I want to mention is the choice to become a ‘Human Heart Company’ shared by Chairman Bolat Duisenov at the 2023 Town Hall. I believe that the ‘Human Heart Company’ is a solid foundation for us to not ‘Make It Happen at any cost,’ compromising with the pitfalls of growth with the elegant title of ‘Market Leader.’ Instead, we crave to be recognized as an ‘Industry Leader.’ Weak or strong, we are all equal, so Coteccons is fortunate to still have the ability to embrace those who need our support to lead the change in the Construction industry, that is the portrait of an ‘Industry Leader,'” he said.
“A year of 2024 will open up paths and many choices. We choose to continuously ‘rise brilliantly’ with recognition and sharing from the community by doing many right things,”
Hoang Thuy
