Hoa Sen Corporation shipped 17,000 tonnes of steel sheet worth over 14 million USD to the US on January 10, 2019 (Source: VNA)NgheAn (VNA) - Hoa SenCorporation shipped 17,000 tonnes of steel sheet worth over 14 million USD tothe 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 nowavailable in more than 75 countries and territories, including markets with strictrequirements on the quality of products, services and delivery time such as theUS and Europe.
Hoa Sen Group began to export to the US in 2014 and has made strong developmentin this market for many years.
In the context of rising trade protection policies and the narrowing door for exportof steel sheet to big markets like the US, Europe, Hoa Sen Group is still ableto maintain the export of its products to the US, which proves thecompetitiveness of Hoa Sen brand in the international market.
Thefirm’s output in the 2017-2018 period was nearly 1.9 million tonnes, earning 34.4trillion VND (over 1.48 billion USD) in revenue, with its growth expanding by 13percent and 32 percent in the two years.
Its domestic revenue reached over 22 trillion VND, up 34 percent, while export earningsexceeded 538 million USD, up 27 percent year-on-year. The firm’s after-taxprofit in the period reached 410 billion VND.
The same day, Hoa Sen Corporation signed a strategic cooperation agreement withSK Group of the Republic of Korea, which owns SK Shipping - the global top-tiershipping group with over 30 years of experience.
Accordingly, SK Shipping will be a strategic partner of Hoa Sen in transportingits exports to international markets, contributing to improving the Vietnamesefirm’s competitiveness.
In the coming time, Hoa Sen will devise measures to effectively address financialissues while accelerating the restructuring of its distribution system, towardsmaintaining its number-one position of galvanized steel sheet in the domesticmarket, and expanding export markets.-VNA
VNA
