- CEO
- Kien The Pham
- Sector
- Industrial services
- Industry
- Engineering & construction
- Address
- Bac Ninh Vietnam
- IPO Date
- May 30, 2024
- Business
- Lilama 69-1 Joint Stock Company (UPCoM: L61), a subsidiary of Vietnam Machinery Installation Corporation (LILAMA Corporation), is a Vietnam-based industrial engineering, fabrication, and construction enterprise primarily engaged in mechanical fabrication, heavy industrial equipment installation, and plant maintenance services. Founded in 1961 and formally corporatized into a joint stock company in 2005, the company is headquartered in Bac Ninh City, Bac Ninh Province, Vietnam.
The company operates across three core business segments: Mechanical Fabrication and Manufacturing, Industrial Installation and Construction, and Maintenance and Technical Services. Its comprehensive portfolio of products and services comprises: fabricated structural steel, heavy steel frameworks, and customized industrial machinery; high-pressure vessels, industrial boilers, pressurized containment systems, storage tanks, and bulk material storage silos; industrial piping networks, exhaust gas ducts, and specialized industrial conduit assemblies; metal surface treatment, abrasive blasting, and anti-corrosion coating services; full-scale mechanical and electrical installation of synchronous production lines, turbines, generators, and heavy machinery for thermal power plants, hydroelectric stations, oil refineries, petrochemical complexes, cement plants, chemical processing facilities, and fertilizer manufacturing plants; civil engineering and industrial infrastructure construction, including civil structures, foundation systems, and utility networks; mechanical, electrical, and plumbing (MEP) installations comprising power distribution systems, industrial instrumentation, heating, ventilation, and air conditioning (HVAC) units, and water supply and drainage systems; and complete plant overhauls, routine maintenance, emergency repair services, non-destructive testing (NDT), technical inspection, equipment calibration, and industrial engineering consultancy.
Lilama 69-1 maintains significant production capabilities centered at its Bac Ninh Steel Structure Fabrication and Equipment Manufacturing Factory in the Que Vo Industrial Park, supported by specialized operational units including the Lilama 69-1 Trading and Service Enterprise and regional representative branches. The company serves public energy authorities, international engineering procurement construction (EPC) contractors, and private industrial developers across Vietnam, having delivered key components for landmark national projects such as the Vung Ang 1, Nghi Son 1, and Mong Duong thermal power plants, the Dung Quat Oil Refinery, and the Hanoi Museum, while also supplying fabricated metal structures and equipment modules for international export.
In recent developments, Lilama 69-1 has been undergoing extensive corporate and operational restructuring under LILAMA Corporation's multi-year restructuring program, which includes targeted capital divestment strategies across non-core member entities. Facing extended operational and liquidity challenges, the company has undertaken aggressive measures to recover overdue receivables, restructure outstanding credit obligations with financial institutions, auction non-core and underutilized assets, and streamline its core mechanical installation and industrial maintenance contracting divisions to stabilize business operations and address regulatory monitoring on the UPCoM exchange.