Top Construction Material Producer in Vietnam, Restructures Three Core Divisions

Viglacera

VIETNAM: Viglacera, Vietnam’s construction material producer and industrial real estate developer, has announced a restructuring of its three core businesses—sanitary ware, tiles, and real estate between August 22 and September 17. The company will establish Viglacera Sanitary Ware Single Member Limited Liability Company (TBVS) as the core unit for sanitary ware, consolidating assets and staff from Viglacera My Xuan Porcelain and Viglacera Faucet, which will be shut down. TBVS will also take over stakes in Viglacera Thanh Tri Porcelain JSC, Viet Tri Viglacera JSC, and Viglacera Trading JSC, as well as manage machinery from Viglacera Binh Duong Porcelain. In H1/2025, revenue from porcelain, faucets, and accessories rose more than 50% year-on-year to VND491.5 billion (US$18.63 million). 

Similar restructuring plans are underway for the tile and real estate segments. For tiles, Viglacera Hanoi JSC and Viglacera Thang Long JSC will merge into Viglacera Tien Son JSC, consolidating production and sales. The real estate units’ ownership structure will remain for now, with divestment planned “at an appropriate time.” VGC is also reorganizing its infrastructure construction units. In H1/2025, net revenue reached nearly VND6.1 trillion (US$231.21 million), up 13.7%, driven by industrial land leasing, while consolidated post-tax profit jumped 105.2% to VND838 billion (US$31.76 million). VGC shares closed Friday at VND58,500 (US$2.22) on the Ho Chi Minh Stock Exchange. 

Source: The investor Vafie Magazine