PHU THAI INDUSTRIES COMPANY LIMITED

PHU THAI INDUSTRIES COMPANY LIMITED (CÔNG TY TNHH CÔNG NGHIỆP PHÚ THÁI) is a long-established distributor and service provider of heavy machinery in Vietnam, operating under business ID 0104567918. Headquartered in Hà Nội and active since 2010, the company is best known as the official distributor of CATERPILLAR equipment in Vietnam. This position places it among the country’s most influential suppliers in mining, construction, maritime logistics, waste treatment, and industrial infrastructure.

The company employs 368 workers and is chaired by Phạm Đ. D., with executive leadership shared between Robert C. S. and Trịnh Đ. T.. Phu Thai Industries is wholly owned by PTC Holdings Group JSC, which maintains 100 percent shareholding.

A contracting financial year after two years of strong growth

According to the financial tables and charts on page one, 2024 marked a downward shift:

• Total assets fell to USD 81.96 million, a  9.61% YoY decline.

• Revenue dropped to USD 82.02 million, down 10.55%, reflecting softer demand for heavy machinery.

• Profit fell sharply to USD 6.69 million, a 32.5% decrease from 2023’s strong performance.

• Equity contracted by 20.73%, falling to USD 33.68 million.

• Working capital decreased to USD 19.91 million, an 8.71% drop.

This contraction suggests pressure from Vietnam’s slowing real estate, mining, and infrastructure cycles — all core customer segments for Caterpillar equipment.

Operational reach and diversified manufacturing capabilities

Beyond distribution, the company's registered activities (page two) span a wide array of manufacturing and machinery-related functions, including:

• Production of electric motors, transformers, gears, and pumps

• Manufacturing of metal products, tanks, and structural components

• Machining, coating, forging, and metal forming

• Installation and maintenance of industrial machinery

• Manufacture of mining and construction machinery

This extensive breadth supports after-sales service requirements and strengthens the company’s ecosystem around Caterpillar equipment.

Conclusion

Phu Thai Industries remains a high-capacity, strategically positioned machinery distributor with deep technical expertise. Although 2024 reflects weaker financial performance driven by market headwinds, the company retains substantial working capital, strong brand alignment with Caterpillar, and diversified technical capabilities that position it for recovery when industrial demand improves.