Stolz-Miras expands Vietnam operations, targeting market leadership

11:10 | 04/10/2018 Companies

(VEN) -  “We have already played an active role in the sustainable industrial development of the country, and this will continue,” says Thibaut Giroux, General Director, Stolz-Miras Vietnam Co., Ltd. 

stolz miras expands vietnam operations targeting market leadership
Thibaut Giroux, General Director, Stolz-Miras Vietnam Co., Ltd.

Giroux also said that after 20 years of operating in Vietnam as a leading industrial equipment manufacturer, the company plans to expand production, helping the supporting industry develop stronger roots in the country.

Stolz-Miras Vietnam was established in 1998 by French entrepreneur and boilermaker Pierre Miras, beginning with the tank products in the food industry at a time when there was high demand for stainless steel fabrication in the country.

From that base, the company developed and diversified its products and services, meeting rising, different demands of clients. Now the company has become a major subcontractor for major projects, from simple boilerwork to complete machines, Giroux said.

“Currently, Stolz-Miras Company is one of the high quality fabricator leaders in Vietnam. Our job is to fabricate and install metal equipment on behalf of major industrial and assembler clients worldwide.

“The company’s expertise includes all industrial sectors, including engineering, food & feeds, equipment, energy, chemicals, aerospace, and processing industries.

“We are particularly growing in the pharmaceutical industry”.

Giroux said the company has been working with several large corporations from Europe and Western countries that demand fulfillment of strict international standards.

“And to accomplish that, we have trained our staff regularly to meet the demand of all clients in every industry”.

Passion for excellence

Giroux said the company has the great advantage of having a talented workforce comprising experienced expatriate and Vietnamese professionals, including 180 high skilled workers and engineers who have stayed with the company for many years.

“The Stolz-Miras family has a passion for excellence, and we provide clients the best quality in every project and product. The key factor that makes us confident and prominent is our capability to provide high quality with a wide range of tailor-made products and solutions.”

Although the company has reaped the fruit of 20 years of growth, becoming a preferred and trusted partner in Asia, it nurses further ambitions, Giroux said.

He said his desire is to position Stolz Miras as a leading industrial subcontractor in Vietnam with capabilities to design and manufacture unique and specific project, setting manufacturing standards that are of even higher quality than Western fabrications.

To turn this dream into reality, “Stolz-Miras will move to a bigger new factory that is under construction on a 15,700 m2 area in the Amata Industrial Zone (Bien Hoa City, Dong Nai province). This meets our growth and expansion plans.

“With the new facility, the company will invest in new equipment (laser cutting, turning, milling machines, etc.) as well as recruit more than 50 people to operate the new factory by the end of this year.

“And we will invest continuously in our production capabilities while maintaining international standards of quality and safety”.

stolz miras expands vietnam operations targeting market leadership
Stolz-Miras will recruit more to operate the new factory by the end of this year

Vietnam sustains investor interest

As a Frenchman who has lived and worked in Vietnam for 15 years, witnessing firsthand its development, Giroux said Vietnam continues to be a welcome investment destination for companies like Stolz-Miras in particular and foreign investors in general.

“The country is still an attractive and potential destination for French investors in ASEAN region.” He said it was important for foreigners to understand the culture and surroundings before deciding to do business in Vietnam.

“Most importantly, it is essential that you adapt your company to the local way.”

Giroux said supporting industry companies like Stolz-Miras have developed well in the past few years in Vietnam thanks to the quality of its labor force and being a more attractive option than China or India.

As evidence, he pointed to his company doubling its growth in 2016-2017, and targeting an annual average growth of 30 percent in the coming years.

Brighter prospects

Giroux said he thinks that the acceleration of Vietnam’s supporting industry can be supported by a better handling of property rights, which would give greater confidence to foreign investors. He said investors’ long-term commitment can be ensured with improved financing and less uncertain land use rights.

Looking ahead, Giroux saw bright prospects for his company.

“Currently, exports account for 80 percent of Stolz-Miras’ business, mainly to Europe, but with the EUVNFTA (EU-Vietnam Free Trade Agreement) set to be signed in the near future, Vietnam will hopefully be seen differently by EU companies.”

Giroux explained that his company was already benefiting from preferential tax rates for fabricating, and Vietnam being seen in a different light would have indirect business benefits.

“And this attraction will develop Vietnam’s reputation, benefiting several industries, including ours. It may also simplify procedures and make it easier to consider importing from Vietnam”.

Phung Nghi