23:24 (GMT +7) - Monday 17/12/2018

BUSINESS SPOTLIGHT

Hoa Sen introduces new steel pipe

Released at: 14:11, 23/04/2018 BUSINESS SPOTLIGHT

Hoa Sen introduces new steel pipe

Photo: Hoa Sen Group

Group launches new hot-dip galvanized steel pipe with outstanding quality.

by Khanh Chi

The Hoa Sen Group, one of the leaders in Southeast Asia’s steel sheet industry, this month introduced its new hot-dip galvanized steel pipe to the market.

It has built a hot-dip galvanized steel pipe factory at the Phu My Industrial Zone in southern Ba Ria Vung Tau province with a modern production line from Italy’s GIMECO that includes six steel machines, one slitting machine, and one hot-dip galvanizing production line with a capacity of nearly 85,000 tons per year.

Thanks to its strategic investment in an automated and modern production line as well as strict quality assurance from input to output, the Hoa Sen Group produces hot-dip galvanized steel pipe with significant advantages.

Hot-dip galvanization is an advanced technology that protects the inner iron layer from air and external chemicals. The product’s weatherproof surface rarely becomes worn or rusted as a result of chemical reactions, making the hot-dip galvanized steel pipe the most suitable choice to prolong the lifespan of projects in specific areas, especially by the seaside, which always suffer from moisture and high temperatures.

The product also has a wide application, such as firefighting and air supply systems, banisters, stairs, fences, and warehouses. It is also used in modern agriculture, industrial hydraulics, and other civilian applications.

The Hoa Sen Group recorded remarkable business achievements in the 2016-2017 financial year (FY). Sales and revenue far exceeded expectations, with the former reaching 1.56 million tons, a year-on-year increase of 25 per cent and 5 per cent higher than planned, and the latter more than $1.1 billion, a year-on-year rise of 46 per cent and 14 per cent higher than planned.

Despite the negative effects of material prices on profit margins, Hoa Sen still made $58.5 million, or 81 per cent of the target. Average growth in the last five financial years has been 23.1 per cent; relatively high compared to others in the steel sector.

In FY 2017-2018, Hoa Sen is determined to sell 1.8 million tons, earn $1.32 billion in revenue, and record nearly $60 million in after-tax profit.

Its hot-dip galvanized steel pipe is now available at over 370 outlets in Vietnam and can be purchased directly at all stores of the Hoa Sen Group or online.

The Hoa Sen Group has been constantly conducting research on creating new products to satisfy growing customer demand, offering a variety of top quality goods as well as promoting online sales to provide customer with greater convenience. This is why the Group has gained in popularity and won the trust of customers throughout Vietnam and more than 75 countries and territories and also affirmed the Vietnamese steel brand in the international arena.

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