- Business
- Petrovietnam Machinery - Technology Joint Stock Company (UPCOM: PVM), commercially known as PVMachino, engages in the import, export, distribution, and engineering of industrial machinery, specialized mechanical and electrical equipment, and technical supplies primarily for the energy, oil and gas, power generation, and infrastructure construction sectors in Vietnam and select international markets. Founded in 1956 and headquartered in Hanoi, Vietnam, the company originally operated under the Ministry of Trade before integrating into Vietnam Oil and Gas Group (Petrovietnam) and subsequently transitioning into a publicly traded joint stock enterprise on the UPCoM exchange.
The company operates across three primary business segments: Trading and Commercial Distribution, Technical and Engineering Services, and Property and Asset Management. Its comprehensive product and service portfolio includes the supply, wholesale, and distribution of industrial plant machinery, turbomachinery, power generation equipment, valves, pumps, industrial compressors, and replacement spare parts; mechanical fabrication, welding, and manufacturing of custom metal structures, industrial storage tanks, pressure vessels, and fluid delivery systems; installation, maintenance, testing, and overhaul services for petrochemical facilities, thermal and hydropower plants, and municipal water supply systems; wholesale trading of solid, liquid, and gaseous fuels, industrial lubricants, and chemical derivatives; and logistics management, bonded warehousing, freight transport, and commercial property leasing. Through partnerships with global equipment manufacturers such as Siemens, Toshiba, and Honda, the company provides integrated equipment procurement and technical support to industrial enterprises and public infrastructure projects.
In recent corporate developments, PVMachino has executed a comprehensive strategic reorganization and capital reallocation following the full divestment of PetroVietnam Power Corporation (PV Power) from its shareholder base. As part of its portfolio optimization strategy to exit non-core holdings, the company completed the divestment of its minority equity stakes in Japanese automotive and motorcycle component manufacturing joint ventures, including the sale of its 10% stake in Vietnam Nippon Seiki Co., Ltd. and the divestment of its 10% interest in FCC Vietnam Co., Ltd. Concurrently, PVMachino has diversified its business model by expanding into commercial real estate development, asset management, and financial asset acquisitions, while strategically reorienting its primary engineering and equipment supply operations toward emerging renewable energy and high-capacity domestic infrastructure projects.