05:29 (GMT +7) - Friday 22/03/2019

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Nova Buildings acquires BlueScope's key Vietnam assets

Released at: 14:33, 07/01/2019

Nova Buildings acquires BlueScope's key Vietnam assets

Photo: Nova Buildings Group

Dong Nai plant to serve as Nova Buildings' key manufacturing hub.

by Doanh Doanh

The Nova Buildings Group has finalized the acquisition of BlueScope Buildings’ key fabrication assets in Bien Hoa city, southern Dong Nai province.

The plant will serve as Nova Buildings’ key manufacturing hub for the supply of pre-engineered buildings across Southeast Asia.

Thirty kilometers north of Ho Chi Minh City, the plant is scheduled to commence operations shortly, led by key operational team members who formerly managed facilities under BlueScope Buildings.

“Nova Buildings’ management has worked with multinationals and large domestic clients in design, engineering, and completion of thousands of pre-engineered buildings in logistics and distribution, retail hypermarkets, agriculture, food and beverages, and aviation facilities in Southeast Asia,” said Mr. Cheong Ku Wei, CEO of the Nova Buildings Group. “We will continue to provide support to clients looking to further invest and expand in this fast-growing region.”

Nova Buildings was founded by a group of seasoned and experienced managers previously from BlueScope and provides steel, building products, pre-engineered buildings, and multinational construction services in the region.

It is headquartered in Singapore, with local business entities incorporated in Indonesia, Malaysia, Thailand, and Vietnam. These entities, with experienced in-market sales and engineering teams, will work closely with clients to provide competitive and functional pre-engineered buildings integrated with a broad range of quality building products and systems sourced locally with strong domestic after-sales support.

The business is backed by a private equity investment structure comprising major investors from within the region’s construction industry, led by the Singapore-based investment firm the Fintonia Group. “Nova Buildings is supported by several prominent companies in the construction industry,” said Mr. Cheong. “This is affirmation of the founding management team and the synergy with our investors in regional market expansions in the high growth construction industry in Southeast Asia.”

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