Hoa Phat Group has announced its intention to buy a controlling stake in Thach Khe Iron Joint Stock Co, but is likely to face difficulties as the iron company's major stakeholder, State-owned mining group Vinacomin, also wishes to raise its stake to 51 percent. Thach Khe Iron Co (TIC), which is involved in iron ore exploitation in central Ha Tinh Province, currently has three major shareholders, including Vinacomin with 30 percent stakes, Ha Tinh Trading & Minerals Corp (Mitraco) with 24 percent and Vietnam Steel Corp (VNSteel) with 20 percent. As the price of iron ore has increased, industry insiders say holding a stake in a large iron company such as Thach Khe Iron Co has become increasingly lucrative. Hoa Phat Group (HPG) - one of the three largest steel producers in Vietnam - recently expressed its interest in holding a controlling stake in the iron company. In an initial move, HPG has begun finalising procedures to purchase a 5 percent stake in TIC from the Bank for Investment … [Read more...] about Vinacomin, Hoa Phat vie for iron miner
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Hoa Phat produces record steel in 2017
Hoa Phat Group, a major industrial group in Viet Nam, produced a record volume of finished steel products – three million tonnes – in 2017, a year-on-year increase of 25 per cent, the group’s managers said on Thursday.Of this, construction steel accounted for 2.2 million tonnes, while steel pipes contributed to 600,000 tonnes and the remaining was galvanised steel.Last year, Hoa Phat exported some 200,000 tonnes of steel products. They included 161,000 tonnes of steel bars and rolled steel to the United States, Canada, Australia, Malaysia and Cambodia.The increase in export volume to strict markets showed high competitiveness of the group’s steel products, especially high-quality rolled steel with code SAE1006 and SAE1008.It was the first time Hoa Phat Steel surpassed an annual production of two million tonnes, a year-on-year surge of 20 per cent and 10 per cent higher than its plan for 2017.In the domestic market, Hoa Phat continued to top the market share with … [Read more...] about Hoa Phat produces record steel in 2017
Hoa Phat exports 200,000 tonnes of steel
The Hoa Phat Group exported about 200,000 tonnes of steel in 2017. (Photo: thephoaphat.org)Quang Ngai (VNA) – The Hoa Phat Group announced on January 4 that itexported about 200,000 tonnes of steel in 2017.Some 161,000 tonnes were shipped to the US, Canada, Australia, Malaysia andCambodia. High-quality steel products have been favoured by foreigners.The group also sold 79,000 tonnes of steel billets to domestic and foreign markets.Last year, the company’s business hit a record of 3 million tonnes of steel, ayear-on-year surge of 25 percent. Of the total amount, 2.2 million tonnes wereconstruction steel, 600,000 were steel pipes, and the remainders are galvanisedsteel.The Hoa Phat Group continued to affirm its leading position in the domesticmarket with its two main products – construction steel and steel pipes. Strongconsumption was seen in the central and southern regions.-VNA … [Read more...] about Hoa Phat exports 200,000 tonnes of steel
Hoa Phat exports 200,000 tonnes of steel
The Hoa Phat Group exported about 200,000 tonnes of steel in 2017. (Photo: thephoaphat.org)Quang Ngai (VNA) – The Hoa Phat Group announced on January 4 that itexported about 200,000 tonnes of steel in 2017.Some 161,000 tonnes were shipped to the US, Canada, Australia, Malaysia andCambodia. High-quality steel products have been favoured by foreigners.The group also sold 79,000 tonnes of steel billets to domestic and foreign markets.Last year, the company’s business hit a record of 3 million tonnes of steel, ayear-on-year surge of 25 percent. Of the total amount, 2.2 million tonnes wereconstruction steel, 600,000 were steel pipes, and the remainders are galvanisedsteel.The Hoa Phat Group continued to affirm its leading position in the domesticmarket with its two main products – construction steel and steel pipes. Strongconsumption was seen in the central and southern regions.-VNA … [Read more...] about Hoa Phat exports 200,000 tonnes of steel
Vinalines partners up with Hoa Phat-Dung Quat Steel
The signing ceremony was part of the Vietnam Logistics Forum 2017 co-organised by the Ministry of Transport, the Ministry of Industry and Trade, the World Bank, and Vietnam Logistics Business Association (VLA)."Joining such an event is a good opportunity for Vinalines to expand its market share, seek business partnership with domestic and foreign partners as well as introduce logistics services to potential customers," said Le Quang Trung, deputy general director of Vinalines.Currently, the shipping giant owns a fleet with a total loading capacity of over two million tonnes, accounting for around 26 per cent of Vietnam's national shipping fleet. This enables Vinalines to meet requirements of shippers and contribute to the country's expanded trading network.Vinalines, which has stakes in 14 port companies and operates over 13,000 metres of piers with a total capacity of 70 million tonnes of cargo a year, is attracting the attention of many influential international groups.Meanwhile, Hoa … [Read more...] about Vinalines partners up with Hoa Phat-Dung Quat Steel