Singapore, March 25, 2024 - TES, a global leader in IT Asset Disposition (ITAD) and recycling services, announces the strategic enhancement of service provision in the Asia Pacific region. TES is excited to launch a strategic partnership with VSD Holdings in Vietnam to build on service availability and meet the demands of global clients.
This joint venture marks a significant milestone for TES as it enhances the provision of technology lifecycle management services in the region. VSD Holdings, a prominent player in the recycling industry in northern Vietnam, brings valuable expertise and resources to this collaboration.
With a primary focus on ITAD services initially, the partnership between TES and VSD Holdings aims to broaden its scope to include E-waste recycling and battery recycling in the future. The official signing of the JV agreement on February 29th paves the way for the construction of an ITAD factory scheduled to commence in March.
"Collaboration breeds innovation, and the partnership between TES and VSD Holdings exemplifies this perfectly,” said Terence Ng, Chief executive officer of TES, “together, TES and VSD Holdings are set to redefine the landscape of technology lifecycle management in Vietnam. With a shared vision of sustainability and responsibility, this joint venture not only enhances the scope of ITAD services but also paves the way for future initiatives in E-waste and battery recycling.”
VSD Chairman Vu Ngoc Tu at VSD Holdings said, "As Chairman of VSD Holdings, I am proud to embark on this transformative journey alongside TES, a global leader in IT Asset Disposition. Our partnership signifies a commitment to sustainability and innovation in the technology lifecycle management sector. Together, we aim to redefine industry standards in Vietnam and beyond, fostering a greener, more responsible future for generations to come."
Simon Park, President APAC at TES added, “The official signing of the agreement marks the beginning of a transformative journey towards a greener, more efficient future. TES and VSD Holdings are gearing up to support increased circularity in the tech industry in Southeast Asia with the launch of our state-of-the-art ITAD facility in Hanoi later this year."
The announcement marks a significant step forward in TES's expansion and enhanced service offerings. With a network of more than 40 facilities providing technology and battery lifecycle management services across the globe, TES is reinforcing its commitment to delivering the most extensive service capabilities within our sector. TES’s existing ITAD and ewaste recycling facility in Ho Chi Minh has recently solidified its commitment to sustainability and environmental responsibility with accreditation to the rigorous R2v3 standard.
“We are expanding our presence worldwide to meet the means of our global clientele.” said Terence Ng, “We are committed to providing exceptional ITAD solutions at the highest levels of quality, precisely where our clients require support. This new endeavor represents just one of many significant growth and development projects planned in 2024.”
These updates not only demonstrate TES's dedication to excellence but also underscore its efforts to make a positive impact on the circular economy by promoting sustainability and responsible resource management. The continued growth and development of TES highlight its ongoing efforts to meeting the evolving needs of its customers while championing environmental stewardship in the industry.
About TES
Since our formation in 2005, TES has grown to become a global leader in sustainable technology services and bespoke solutions that help clients manage the commissioning, deployment, and retirement of technology devices and components.
We provide comprehensive services for technology devices throughout their lifecycle — from deployment to decommissioning to disposition — all the way through to recycling and end-of-life repurposing. This includes innovating new processes to leverage the value locked in assets if they are to be recycled, such as our proprietary lithium battery recycling process, which extracts scarce materials from used batteries at purity rates high enough that they can be reused in the manufacturing supply chain.
We have made it our mission to make a decade of difference by securely, safely, and sustainably transforming and repurposing one billion kilograms of assets by 2030. Our 43 owned facilities across 22 countries offer unmatched service-level consistency, consistent commercials, lower logistics costs, local compliance experts in-region, support in local time zones and languages, and a deep understanding of transboundary movement globally.
About VSD
VSD Holdings is dedicated to sustainable business practices, with a strong focus on environmental excellence and responsible resource management. With a vision to emerge as a leading brand in Vietnam's sustainable development and gain international recognition, we at VSD Holdings are committed to creating a green ecosystem that prioritizes the health and well-being of humanity. Focused on investing in sustainable businesses, our core sectors include environment and energy, particularly hydropower. With 17 environmental companies and 13 treatment factories, including two waste-to-energy plants, we offer our customers comprehensive solutions such as environmental consulting, waste treatment, recycling, and scrap trading. Dedicated to contributing to Vietnam's sustainable development, we are poised to drive positive change and contribute to the circular economy. Our partnership with TES reflects our shared commitment to redefining industry standards and promoting a greener, more sustainable future.
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