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
VNA
