Hoa Sen Corp. ships 2019’s first batch of steel sheet to US
Hoa Sen Corporation shipped 17,000 tonnes of steel sheet worth over 14 million USD to the US on January 10 – the firm’s first batch of exports to the market in 2019.
Hoa Sen Corporation shipped 17,000 tonnes of steel sheet worth over 14 million USD to the US on January 10, 2019 (Source: VNA)Nghe An (VNA) - Hoa Sen Corporation shipped 17,000 tonnes of steel sheet worth over 14 million USD to the US on January 10 – the firm’s first batch of exports to the market in 2019.
Apart from the US, Hoa Sen’s products are now available in more than 75 countries and territories, including markets with strict requirements on the quality of products, services and delivery time such as the US and Europe.
Hoa Sen Group began to export to the US in 2014 and has made strong development in this market for many years.
In the context of rising trade protection policies and the narrowing door for export of steel sheet to big markets like the US, Europe, Hoa Sen Group is still able to maintain the export of its products to the US, which proves the competitiveness of Hoa Sen brand in the international market.
The firm’s output in the 2017-2018 period was nearly 1.9 million tonnes, earning 34.4 trillion VND (over 1.48 billion USD) in revenue, with its growth expanding by 13 percent and 32 percent in the two years.
Its domestic revenue reached over 22 trillion VND, up 34 percent, while export earnings exceeded 538 million USD, up 27 percent year-on-year. The firm’s after-tax profit in the period reached 410 billion VND.
The same day, Hoa Sen Corporation signed a strategic cooperation agreement with SK Group of the Republic of Korea, which owns SK Shipping - the global top-tier shipping group with over 30 years of experience.
Accordingly, SK Shipping will be a strategic partner of Hoa Sen in transporting its exports to international markets, contributing to improving the Vietnamese firm’s competitiveness.
In the coming time, Hoa Sen will devise measures to effectively address financial issues while accelerating the restructuring of its distribution system, towards maintaining its number-one position of galvanized steel sheet in the domestic market, and expanding export markets.-VNA
You should also see
Top 500 fastest growing enterprises 2024 announced
A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.
See more
Business
Phu Yen, Ninh Thuan attractive to energy project developers
The south-central coastal provinces of Phu Yen and Ninh Thuan have become attractive destinations for investors operating in the energy industry thanks to great potential for renewable energy development.
Business
Petrovietnam posts 9-billion-USD revenue in Q1
The Vietnam National Oil and Gas Group (Petrovietnam) saw total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently.
Business
Forum seeks to increase PPP investment effectiveness
Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
