Thang Loi Company Limited – Effort In Exploit Niche Market
Posted by Vico Casting at 30/12/2019
Thang Loi Company Limited (Co,.Ltd) was officially established in Nam Dinh City, Nam Dinh Province since 1992. Until 2005, when Nam Dinh City’s An Xa Industrial Zone was established, in order to operate one-door administrative procedures, especially to reduce environmental pollution, noise,… Thang Loi Co,. Ltd has carefully implemented the policy of People’s Committee of Nam Dinh City and moved into Industrial Zone to build offices and factories on an area of 7,200 m2 at No.5, N1 street to stabilize production and business. Actually, Thang Loi Co,. Ltd continue to expand the dimension for production up to 24,000m2 and invest in innovating many modern technologies to meet more and more higher the domestic and international markets’s demands, especially the application of Information Technology (IT), e-commerce into production, business.
According to Mr.Phung Dinh Thong – Director, through carefully researching domestic product market, especially in the early years of open-door, reform and perform industrialization, modernization, we have mainly imported machines and production lines from China serving industrial production such as cement industry, mining, thermoelectric industry, sugar cane, paper,… However, the price of these replacement parts is very high, and even some items have to be ordered for a long time. Face that situation, having a passion for mechanical engineering, Mr.Thong has decided to enter the niche market by investing in the production of replacement accessories for the mechanical industry (now, we are positively attracting investors in the field of manufacturing supporting industries in general).
At the same time, upon investing in the construction of the factory, Mr. Thong and the engineers of the company have actively researched and applied the scientific and technical advances of other countries such as China and Japan into manufacturing and installation of his mechanical industrial production lines. Due to this breakthrough, when the factory was initially operated, it also encountered many difficulties, even failure with the products made. Mr. Thong only knew how to keep quiet in his heart and encouraged the company's engineers and employees to be determined to stand up, as Uncle Ho taught: "Nothing is difficult / Just afraid of not being strong / Digging mountains and filling the sea / Surely made a firm decision".
Then, regardless of the determination to "squeeze the brain", and the enthusiasm of the company's engineers and employees, the first products were born according to the requirements of customers's orders. A series of spare parts have been successfully researched and manufactured by the company from steel, cast iron, such as: grinding balls, liners, PLAQUE plates, plates, registers, hammer mills, cages, cold grate, bucket teeth, grinding jaws... serving the cement, mining, thermal power, chemical fertilizer production, sugar cane, paper industries; non-standard products, manhole covers, construction vehicle parts, ship parts, wear-resistant suction pumps... and other industries.
What is mentioning is that while using the company's products, all different customers have the same opinion: "Compared with same type products ordered abroad, the quality of the products produced by Thang Loi Co., Ltd. is not inferior, but it can take the initiative in time, especially the price is much lower”.
Recognizing the more and more high demands of the market, face the investment in innovation in modern technologies and equipment from advanced countries in the world entering in industrial production in our country, the company has continued to invest in many synchronous production lines in service of production. At the same time, the company has also invested in advanced testing equipment such as spectrum analyzer, hardness tester, metallurgical microscope, liquid steel water temperature gauge, ultrasonic machine, tensile tester. , especially new technology (lost foam casting line), using foam samples to cast steel (for high accuracy) and fast curing sand mold making line (with the effect of sorting and cooling sand) created by our company has given very high results when the surface of cast products was smooth.
The good reputation has also resonated so far, the company's products has not only met the needs of domestic customers, but also been exported (snow plow blades) to the Canadian and American markets with a total annual output of 4,000 tons of domestic sales and about 300 tons of exported products. Since then, the company's revenue has steadily grown over the years from 20 to 30%, specifically, in 2019 it reached 239 billion dong and in 2020 it was 300 billion dong, creating jobs for 300 employees, with an average income of 5.5 million VND/person/month. Particularly for engineers, skilled workers and especially any employees with new initiatives, the company has had very worthy remuneration and rewards. Mr. Duong Van Binh, graduated from the College of Metallurgical Engineering, Department of Metal Foundry, said: “Through testing and especially after completing a number of tasks assigned by the company, combined with satisfactory remuneration for the employees of Director Thong, I decided to leave Hanoi with my wife and children to settle down here. After 5 years of working at the company and being guided, inspired creativity by Director Thong, and being able to devote, for now, I have just been promoted to the position of Vice Director of the company, and even bought a house, a car… This will be a condition for me to continue to contribute and stick with the company and develop my career here.”
Not stopping at what is available, Director Thong continues the "recruitment", creates the conditions for the young successor who are enthusiastically creating and contributing to enter the "important" positions of the company. At the same time, Director Thong also realized that the investment and application of information technology and e-commerce in production and business activities was very necessary, so he invited experts from the Information Technology Center under the Department of Science and Technology of Nam Dinh province to install IT equipment about "Manage, operate production and sale online" and trained, guided candidates for the "important" position to continue developing, commensurate with the potential and orientation of the company. With this central investment direction, focusing on both "human and material resources", this will be the foundation for Thang Loi Co., Ltd. to continue to assert itself in the village of "supporting mechanical industry" at home and abroad.