According to Tiong Woon, the collaboration will also place both itself and Mammoet in a stronger position to offer, tender, negotiate and provide best-in-class solutions in projects in Thailand.
As part of the move, Tiong Woon has acquired assets from Mammoet including transportation, heavy haulage and heavy lifting equipment.
The acquisitions will position and enable the company to undertake new, larger and more complex projects for existing and new customers, further solidifying its reputation as a go-to partner for high-value, complex and challenging heavy lift and haulage solutions in Thailand and the region, says Tiong Woon.
CEO Michael Ang says: “We are excited about the opportunities this strategic alliance and asset acquisition with Mammoet in Thailand brings to our organisation and our customers. This is yet another chapter in the group’s growth story in the right direction.”
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“The investment also underscores our commitment to meeting the evolving needs of our customers and partners, and our vision for the group as the market leader in high-value, large, complex heavy lift and haulage solutions in Thailand and the broader region. We believe that this broadening of our strategic partnership with Mammoet in the Asia Pacific region augurs well for further growth in the region,” he adds.
Shares in Tiong Woon closed unchanged at 45.5 cents on Dec 15.
