- Business
- Lilama 45.1 Joint Stock Co is a Vietnam-based engineering, fabrication, and construction contractor specializing in mechanical erection and industrial equipment installation. Tracing its origins to 1979 and equitized under its current corporate form in 2007, the company is headquartered in Ho Chi Minh City, Vietnam, and operates as an affiliated entity of the Vietnam Machinery Erection Corporation (LILAMA Corporation), supported by heavy mechanical manufacturing facilities located in Dong Nai Province. The company serves the energy, heavy industry, and infrastructure sectors, providing core products and services organized into distinct operational areas: mechanical fabrication and manufacturing, encompassing non-standard structural steel, pressure vessels, atmospheric and pressurized storage tanks, technological piping networks, boiler casings, ducting systems, hoppers, and industrial silos; industrial construction and erection services, comprising the turnkey installation and assembly of heavy technological machinery, steam boilers, turbine-generators, and electrical and automation instrumentation systems for thermal power plants, hydroelectric stations, oil and gas refineries, petrochemical complexes, cement plants, and chemical processing facilities; utility and infrastructure installation, covering high-voltage power transmission lines, electrical transformer substations, industrial fluid networks, and commercial elevator systems; technical maintenance, inspection, and specialty services, including plant overhauls, mechanical turnaround services, thermal insulation, abrasive sandblasting, protective coating, non-destructive testing comprising ultrasonic and radiographic inspection, and industrial equipment calibration; and commercial trading operations, involving the supply, import, and export of specialized mechanical equipment, construction materials, and industrial gases. In recent corporate developments, Lilama 45.1 Joint Stock Co has been undergoing operational and financial restructuring to navigate challenging market conditions across the domestic power and industrial contracting sectors. In mid-2024, the company implemented key executive management changes following the resignation of its long-tenured General Director to facilitate strategic revitalization and organizational realignments. Facing revenue contractions and accumulated earnings deficits in recent fiscal cycles, the company has been executing cost-containment measures and debt-restructuring efforts, which have placed its shares under trading restrictions and regulatory review on the UPCoM market. Concurrently, the company continues to align its operations with the multi-year restructuring program of parent group LILAMA Corporation while leveraging its ASME code stamps and ISO quality certifications to sustain bidding activities for industrial fabrication, equipment refurbishment, and plant maintenance tenders across Vietnam.