Hong Kong industrial toolmaker calls Viet Nam strategic base

Tuesday, Oct 25, 2022 07:26

Industrial power tools (Milwaukee brand) is among TTI’s four business divisions in Viet Nam. — Photo courtesy of TTI Vietnam

Hong Kong’s Techtronic Industries Company Limited considers Viet Nam its strategic operational base and is committed to long-term investment in facilities, the supply chain eco-system and workforce and community, its director of communications has said.

TTI is a rapidly growing global company in cordless professional tools, DIY tools, and outdoor power equipment, floorcare and cleaning products for the consumer, professional, and industrial users, Isabella Chan said.

Talking to the media last week she said in just four years since coming to Viet Nam the company has expanded across the country with some 8,000 employees as of June, eight factories in Binh Duong and Dong Nai, a representative office in HCM City, and Milwaukee Heavy-Duty Centres in HCM City and Ha Noi.

“Viet Nam is a very important strategic location for our long-term investment. We would like to build a supply chain eco-system.”

Encouraging people's development and contributing to the community’s sustainable development are among the company’s top priorities, she added.

It collaborated with leading universities to organise a series of TTI Day since May to provide students with information about the power tools industry and develop talent, she said.

Besides, it has a comprehensive campus recruitment global flagship programme to build a talent pool for the long term, she said.

The company has worked with global strategic partner Habitat for Humanity to carry out sustainability programmes that will impact the health and well-being of families and communities across Viet Nam.

It has also joined hands with AmCham Vietnam to give away annual scholarships to support women students in science, technology, engineering, and mathematics and encourage them to pursue careers.

According to US market research and analysis company Frost & Sullivan, the global power tool industry grew at 6.1 per cent a year between 2016 and 2020 to US$39.2 billion.

It is projected to grow at 5.5 per cent between 2020 and 2025 to around $51.3 billion. — VNS

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