Machineries And Industrial Equipment Corporation Organizes Conference Briefing In The First 6 Months Of The Year 2016

     On July 7th, 2016, at the office of General Corporation at No. 7A Mac Thi Buoi, Vinh tuy, Hai Ba Trung, Hanoi, Machineries and Industrial Equipment Corporation (MIE) has organized the Conference Briefing for the first 6 months of the Year 2016 referring the situation of production and business activities; equitization implementation work; finalization of relocation project for production establishments of the Corporation’s subsidiaries. Mr. Nguyen Khac Hai - Deputy Party Secretary of the Corporation’s Party Committee, Member of the Board of Members cum CEO of the Corporation chaired the conference.

 

     Participation members in the meeting included: Party Secretary – President of Board of Members, Controllers, Deputy General Director, Chief Accountant; Vice President of Trade Union, Head of Divisions/Departments; Directors of dependent members; General Director of subsidiaries.

 

     At the conference, Manager of the Planning and Investment Department of the Corporation made the synopsis report on the overall situation of production and business activities, the situation of equitization implementation work, the situation for carrying out relocation projects of production establishments of the Corporation’s members. The conference heard the stated opinions of the General Directors of the Corporation’s members, the directors of the dependent members and the opinions and guidance statements of the President of the Corporation’s Board of Members. After evaluating and analyzing the opinions of delegates at the conference, the General Director of the Corporation concluded:

 

    At present, the core forces of the Corporation have basically completed the relocation of old production facilities to new production bases which are well planned with spacious and convenient infrastructure and workshops and additionally invested with some more modern equipment and machineries. Thus, the potentials and capacity in production and business activities are huge. However, due to the general context in global scale, the world economy continues to revive with slow trend facing many risks whilst the domestic economy is not actually remained stable and encounters difficulties with the GDP growth rate at low level in the first 6 years, achieving 5.52% against the same period. Meanwhile, the core forces of the Corporation have completed the relocation and demonstrated their potentials, however, basically at the stage to restructuring the production and business activities; recruiting and training new staffs; expanding new base of customers; Re-establishing relations with existing loyal customers due to interruptions during relocation. Therefore, the production and business activities of many members are very difficult. (The first 6-month revenues of the Corporation is VND 776.9 billion, reaching 40.78% against the plan in 2016).

 

     To ensure the completion of the production and business plan of the Year 2016 of each member, the Corporation and create premise for growth for the subsequent years, the General Director of the Corporation determines the short-term operational strategy of the Corporation as follows:

     - General Directors of the subsidiaries; Directors of dependent members concentrate and provide guidance to supervise production and business activities so as to ensure the fulfillment of their production and business targets for the Year 2016;

    - Members in the Corporation strengthen cooperativeness, support each other in terms of orders; manpower; the equipment and machineries in the production process, promote the usages of each other's products such as: Cutting tools, Bolts, Grinding tools, Gearbox and other products;

    - To strengthen the introduction of advertising to customers of their members on the traditional products of other members in the Corporation.

 

    For long-term operational strategy of the Corporation, the General Director of the Corporation identifies as follows:

    - To proactively interact with other business associations, enterprises and partners in the same industry to investigate and participate in the global product supply chain, focusing on large corporations and multinational corporations to supply our products;

        - The Corporation has step by step restructured dependent members: Industrial Construction Company; Investment Consultancy and Industrial Technical Services Company to enable the Corporation for in-depth participation in the complete equipment market, implementation of EPC contracts in the industries of Chemistry, Electricity, Foods, etc.

       - To enforce the Corporation to participate in the implementation of contracts and projects of great value, all members of subsidiaries of the Corporation are requested to perform solidarity, coherency and coalescence commencing since the course of implementation of tender packages in accompany with the Corporation to promote the potential strengths and exploited advantages of each member for creating the consortium of synthetic collaboration (financial ability, capacities of equipment and machineries, human resources, executive management) when participating into industrial competitive markets repecting fabrication and supplying of mechanical equipments.

 

   Regarding the equitization of the Corporation, the General Director of the Corporation requests the General Director of the subsidiaries, the Directors of the dependent members to direct their sections to inspect and resolve outstanding issues in the work of equitization (finance, land use purpose, etc.). to incorporate into the information disclosure prospectus before August 15th, 2016 and complete equitization process in Quarter 4, 2016.