- History of establishment and development
+ 1983: Formerly known as the Xuan Mai Large Panel Concrete Factory, the company was established on November 29, 1983, under Decision No. 1434-BXD/TCCB issued by the Ministry of Construction with assistance from the Soviet Union. The factory featured large-scale operations and synchronized equipment for producing large-panel concrete components to support the construction of apartment buildings in Xuan Mai and Hanoi.
+ 1993: The entity was renamed Xuan Mai Concrete and Construction Factory and transferred to become a subsidiary of the Vietnam Construction and Import-Export Joint Stock Corporation (VINACONEX) under Decision No. 1049 BXD/TCLĐ dated December 6, 1996, issued by the Ministry of Construction. During this period, the company signed a technology transfer agreement with Saret International (France) to invest in a pre-stressed concrete production line for small-span PPB beams, serving the construction of civil works. These PPB beams have since been widely applied in Hanoi and neighboring provinces.
+ 1999: In collaboration with RONVEAUX (Kingdom of Belgium), the company established a production line for large-span precast pre-stressed reinforced concrete components using the pre-tensioning method at the Xuan Mai Concrete Plant. This facility produces pre-stressed concrete components dedicated to the construction of high-rise residential buildings, industrial plants, public works, and transportation infrastructure.
+ 2003 – 2005: In 2003, the factory underwent equitization and was renamed Vinaconex Xuan Mai Concrete and Construction Joint Stock Company under Decision No. 1434/QĐ-BXD issued by the Ministry of Construction. In 2005, the Company became the first and only entity in Vietnam’s construction industry to be honored with the ‘State Award for Science and Technology’.
+ 2007: In 2007, the Company officially listed and traded 10 million shares on the Hanoi Stock Exchange (HNX) under the stock code XMC. Vinaconex Xuan Mai was subsequently honored with the ‘Prestigious Stock Brand’ award in 2008 and 2010. During this period, the Company transitioned to a parent-subsidiary model oriented toward specialization, gradually expanding and refining its operational management framework to further enhance its market position and corporate strength within the construction industry.
+ 2013 – 2014: During 2013 – 2014, following the General Meeting of Shareholders’ approval on the corporate restructuring plan, VINACONEX Corporation transferred its entire holding of 10,200,000 shares in Vinaconex Xuan Mai Concrete and Construction Joint Stock Company to Khai Hung Co., Ltd. On April 21, 2014, the Company officially changed its name to Xuan Mai Investment and Construction Joint Stock Company (Abbreviation: Xuan Mai Corporation).
+ 2015: the Company collaborated with Rieckermann (Germany) for the technology transfer of Acotec precast hollow-core wall panels from Elematic (Finland), along with the installation of a production line featuring mixing stations from Frumecar (Spain). Xuan Mai became the pioneer in Vietnam to manufacture and apply Acotec wall panels in construction projects. This technology offers significant advantages, including enhanced productivity, labor savings, and environmental friendliness.
+ 2019: Following the restructuring process, the Company registered to resume stock trading on the UPCoM market and received approval for trading registration from the Hanoi Stock Exchange (HNX) in March 2019.
+ 2021: Signed a comprehensive strategic business alliance agreement with P.S. Mitsubishi Construction Co., Ltd., opening up opportunities for extensive cooperation and mutual development. Signed a comprehensive strategic cooperation agreement with BIDV, ensuring financial health, securing capital resources, and enhancing mutual benefits for all parties.
+ 2023 – 2025: Construction of key infrastructure projects, including: The National Innovation Center (NIC) Project: Located at Hoa Lac Hi-Tech Park, Thach That District, Hanoi. The facility features 6 floors with a total construction area of 34,000m2; The Terminal 2 (T2) Expansion Project: At Noi Bai International Airport, a critical hub for national aviation.
- Vision and mission statements
Vision:
+ To maintain the position as a leading EPC Contractor in the civil and industrial construction market, leveraging precast pre-stressed concrete technology;
+ To become a prestigious investor and developer of real estate projects.
Mission:
Creating high-quality landmarks and fostering meaningful values for society through simple yet profound contributions.
- Business sectors and key achievements in recent years (e.g., Revenue, social status, awards, rankings…)
Business sectors:
+ Civil and industrial construction;
+ Architectural and related technical consultancy activities; + Real estate activities with own, used, or leased land and property.
APPLICATION OF PRECAST CONCRETE TECHNOLOGY
Over the past 20 years, Xuan Mai Corp has applied European semi-precast concrete technology to hundreds of projects in Vietnam, including high-rise buildings, industrial facilities, public works, and various other project types. The utilization of prestressed beam and slab technology for large-span floor structures enables flexible floor plan layouts and apartment functional divisions that meet users’ diverse needs. It also saves materials, shortens construction schedules, and guarantees project quality. Furthermore, the floor slabs used by Xuan Mai Corp feature an integrated middle foam layer that provides excellent sound and thermal insulation, significantly minimizing noise disturbance from upper floors to lower units.
Specifically, the advantages of precast concrete technology in reducing project construction costs include:
- Reduced Formwork Costs: Since components are primarily manufactured in factories, a system of standardized steel formwork is utilized. This system offers a high reuse factor compared to on-site timber or conventional formwork, thereby reducing initial investment costs. The use of steel formwork also delivers exceptionally high-quality surface finishes compared to on-site cast-in-place concrete.
- Minimized Labor Costs Through Mechanization: As components are manufactured off-site, the volume of work required on the construction site is significantly lowered. Site operations are driven primarily by heavy machinery, requiring fewer on-site workers. Following global development trends, direct labor costs and wages are continuously rising; therefore, implementing mechanization to limit manual labor helps reduce total construction investment costs. This trend is already evident in developed countries like Singapore and European nations where direct labor costs are exceptionally high.
- Accelerated Construction Progress: Because components are prefabricated in factories, the construction timeline is substantially shortened, with the reinforced concrete structure progressing at a rate of just 3 to 5 days per floor. Shortening the construction schedule reduces project management expenses and financial costs, thereby lowering the final product cost.
Applying advanced, state-of-the-art technologies aimed at maximizing construction mechanization improves labor productivity, minimizes occupational safety risks, reduces reliance on workers’ individual skill levels, enhances product quality, shortens construction time, and ultimately reduces construction investment costs and product prices.
