After 22 years of operation, LIDOVIT has become a well-known bolts, nuts and screw trademark. The company’s diversified and high-quality products are manufactured by advanced technologies to meet high requirements of many industries. Apart from the domestic market, LIDOVIT has also reached out global markets. To date, LIDOVIT products have been stably exported to the US, Japan and the EU.
From first bricks…
Lidovit Trading & Industrial Joint Stock Company, formerly LIDOVIT Car and Motorbike Spare Parts Enterprise, was set up in 1988 as a joint venture between the People’s Committee of District I and Union of Motorbike and Bicycle Enterprises under the Department of Industry of Ho Chi Minh City. LIDOVIT specialises in producing and trading all kinds of bolt, nuts, screws, fan cages, rivet, washer, bicycle pedal, hand trucks, mechanical kits, bas and accessories, etc.
In 2004, LIDOVIT Car and Motorbike Spare Parts Enterprise was renamed to Lidovit Trading & Industrial Joint Stock Company. Since its establishment, LIDOVIT has always put the quality on top and considered it a prerequisite for developing the nationwide distribution network. The company is now directly distributing over 100 large factories.
Amid the global economic crisis, LIDOVIT strived to balance and sustain branding activities. To this effect, LIDOVIT has built up a contingent of engineers and skilled workers, with 80 % having graduated from universities, colleges and vocational schools. Furthermore, LIDOVIT has made both domestic and international presence and has directly competed with products from China, Taiwan (China) and Malaysia.
Amid global economic uncertainties which have led to volatile crude oil prices, soaring steel ingot prices and domestic economic fluctuations, in 2010, LIDOVIT is focusing on maintaining production and supplementing machines and equipment to diversify products and produce strategic products branded LIDOVIT. Besides, it is adding more products, especially for northern market.
... to a high-rise building
From a small business entity, LIDOVIT has constantly grown up, with revenues and production output increasing 25 times and average annual growth of 17 - 20 %. And, LIDOVIT is today a major bolt and screw producer in Vietnam. This trademark was reaffirmed after the international certification organisation DET NORSKE VERITAS (DNV) certified the ISO 9001:2000 standard quality management system in 2002. Lidovit products won ISO Gold Cup in 2007 and Prestigious Vietnamese Products Award.
Apart from traditional production and business activities, LIDOVIT has also stepped into other business areas. Mr Le Duc Tuyen, Director of LIDOVIT, said: “The Annual General Assembly of Shareholders has decided to invest to build the LIDOVIT commercial and service centre at 230 Bach Dang Street, Ward 24, Binh Thanh District, Ho Chi Minh City. The 6-storey and 1-basement building with a floor area of 9,450 sq.m will be built on a campus of 2,000 sq.m.”
The commercial centre at 230 Bach Dang is expected to be kicked off in May or June 2010 and to be completed in the second quarter of 2011. Besides, LIDOVIT will repair and buy more equipment and machines, develop strategic products, maintain domestic market share and gradually expand foreign markets.
Especially, the company has put forth solutions to human resource development, introduced attractive incentive policies, competitive salary to attract and keep talented employees.
Bich Thuy
Vietnamese
