Techtronic Industries promotes business development in Vietnam

TTI has invested in building a modern manufacturing plant that meets LEED environmental standards in the Saigon Hi-Tech Park (SHTP), which is known as the Silicon Valley of Ho Chi Minh City, marking a turning point in its global growth strategy.

According to TTI Vietnam, “We have identified Vietnam as a strategic location where we are committed to long-term investment and the building of a supply chain ecosystem with talent attraction policies that will contribute to the development of the cordless power tool industry in particular, and Vietnam's economy in general.”

Since its presence in Vietnam in 2018, TTI has expanded its production activities and connected with local suppliers with the aim of constantly building a flexible supply chain ecosystem for its manufacturing operations.

TTI has nearly 8,000 employees working at eight production facilities, a representative office in Ho Chi Minh City, and Milwaukee Heavy Duty Centres in Ho Chi Minh City and Hanoi.

The companies product areas include professional tools, outdoor equipment, floor care, and cleaning tools, most of which have operation in the nation.

In 2022, TTI reaffirmed the sustainability throughout its business system, even during the increasingly challenging operating environment, especially thanks to the phenomenal growth of the flagship Milwaukee brand. It achieved a total revenue of over $13 billion worldwide and grew by 21.8 per cent in the local market.

Free cash flow increased in the second half of the year to reach $329 million at year-end. The gross margin improved for the 14th consecutive year to 39.3 per cent, up 54 basis points. Its earnings before interest and taxes increased by $1.2 billion on-year.

According to Horst Pudwill, TTI’s president, with strong free cash flow growth and a healthy balance sheet, TTI is well positioned to further expand its leading position in the industry.

“We are very confident in our ability to continue to drive market share growth and outperform the market in 2023,” said Pudwill.

TTI is creating a wave of dramatic change in many businesses with its leadership in wireless technology, with battery development and cordless products underpinning its reputation.

TTI's commitment to reducing carbon emissions in its production activities is demonstrated through the construction of a modern LEED-certified production facility in the Saigon Hi-Tech Park.

By pioneering the use of Lithium-ion battery technology and applying brushless high-performance motor technology to create products that do not require complicated wiring, noise is minimised and enough power, operation time, and portability is ensured.

TTI has completely changed the way users and professionals think about power tools, floor care tools, or outdoor products.

Secretary of the Ho Chi Minh City Party’s Committee Nguyen Thien Nhan on August 5 hosted a reception for German investors who visited to explore investment opportunities in the southern hub of Vietnam.

Leading global cordless power equipment and floor care company Techtronic Industries Co., Ltd. (TTI) is actively searching for local suppliers to increase the localisation rate at its Vietnamese manufacturing facilities.

The new wave of foreign investment triggered by COVID-19 and US-China trade tensions has become more visible, with outstanding overseas ventures being expanded in the first half of the year.

The new investment wave from abroad caused by COVID-19 and US-China trade tensions has become more visible, with outstanding ventures funded from overseas being expanded in the first half of the year.