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Nova Buildings Acquires Key Assets of BlueScope’s ASEAN Pre-engineered Buildings Business in Vietnam

January 3, 2019

SINGAPORE--(BUSINESS WIRE)--Jan 2, 2019--Nova Buildings Group has finalized the acquisition of BlueScope Buildings’ key fabrication assets at Bien Hoa City in Dong Nai Province, Vietnam. This fabrication plant situated about 30 kilometres from Ho Chi Minh City is scheduled to commence operation in the new year, led by key operational team members who formerly managed facilities under BlueScope Buildings. The plant will serve as Nova Buildings’ key manufacturing hub for supply of pre-engineered buildings across southeast Asia.

Nova Buildings is founded by a group of seasoned and experienced management previously from BlueScope, providing steel, building products, pre-engineered buildings and multinational construction services in this region. “Nova Buildings’ management collectively 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 beverage, and aviation facilities in southeast Asia. We will continue to provide support to clients looking to further invest and expand in this fast growing region”, said Mr. Cheong Ku Wei, CEO of Nova Buildings Group.

Nova Buildings is headquartered in Singapore, with local business entities incorporated in Indonesia, Malaysia, Thailand and Vietnam. These entities with experienced in-market sales and engineering team 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 aftersales support.

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

As of today, the business is fully functional and operating in the five countries. For more information on the business and office locations, please visit our website at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20190102005670/en/

CONTACT: Nova Buildings – Singapore HQ

Margaret Cheng

Margaret.re1.Cheng@novabuildingsasia.com

KEYWORD: VIET NAM ASIA PACIFIC SINGAPORE

INDUSTRY KEYWORD: BUILDING SYSTEMS TRANSPORT MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT ENGINEERING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Nova Buildings Group

Copyright Business Wire 2019.

PUB: 01/02/2019 09:00 PM/DISC: 01/02/2019 09:01 PM

http://www.businesswire.com/news/home/20190102005670/en

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