Hoa Sen Group exports 15,000 tons of sheet metal to Europe

Hoa Sen Group announced on March 16 that it has successfully shipped 15,000 tons of sheet metal worth over USD 11.5 million to the UK, Germany and Italy.

The steel-making group also inaugurated a zinc-coating tube plant in Phu My 1 industrial zone in the southern province of Ba Ria � Vung Tau at a total cost of VND 500 billion (USD 21.7 million) on March 16.

It also announced that its enterprise resource planning has been successfully carried out.

Hoa Sen Group's products are now available in 75 countries and territories globally, especially in markets with strict requirements on the quality of products, services and delivery time such as the US, Europe and the Middle East.

In early February, it signed a contract to export 4,300 tons of sheet metal valued at about USD 3.7 million to Mexico.

In the context of rising trade protection policies and the narrowing door for export of steel sheet to big markets like the US and 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.

In the 2017-2018 period, the group turned out nearly 1.9 million tons, earning VND 34.4 trillion (over USD 1.48 billion) in revenue, with its growth expanding by 13 percent and 32 percent in the two years.

Its domestic revenue reached over VND 22 trillion, up 34 percent, while export earnings exceeded USD 538 million, up 27 percent year-on-year. The firm's after-tax profit in the period reached VND 410 billion.

Source: People's Army Newspaper