Hoa Phat’s drawn steel wire and prestressed steel output posted 53% increase

In the first 7 months of the year, the total output of drawn steel wire and prestressed steel (PC Bar and PC Strand) of Hoa Phat Metal Production Company reached nearly 82,000 tonnes, up 53 per cent over the same period last year. The company's revenue from these three items reached about VND1.5 trillion, more than two times higher than the same period last year.

The total output of drawn steel wire and prestressed steel surged by 53 per cent

In which, the export volume reached 28,761 tonnes, accounting for 35 per cent of the company’s total steel sales. The main export markets include the US, South Korea, Canada, Taiwan, Laos and Cambodia.

The official supply of prestressed steel cable products (PC Strand) to the market from the beginning of 2021 has contributed to increasing sales volume of Hoa Phat Metal Production Company. Hoa Phat's prestressed steel meets American standards ASTM A416/A416M-17, ensuring mechanical properties, compressive strength and other technical standards. The products are used in large-scale projects that require technical, load-bearing capacity, high safety such as towers, viaducts, sea-crossing bridges, high-rise buildings and cable cars etc. 

According to Vu Anh Tuyet, Deputy Director of Hoa Phat Metal Production Company, this result has been the efforts of the company’s all employees to celebrate the 29th anniversary of establishment (August 22, 1992 - August 22, 2021.

It is expected that in 2022, the company would put the PC Strand line No. 2 at the Prestressed Steel Factory (Dung Quat Economic Zone in the central province of Quang Ngai) into operation to double its output in 2021. At the same time, the first PC Wire is scheduled to have pilot operation in February 2022. Hoa Phat Metal Production Company would install the No. 3 galvanized wire drawing steel line in the nothern province of Hung Yen to double the galvanized output. 

The company also planned to invest in building a factory specializing in the production of metal spare parts for construction, bridges and containers, serving the Hoa Phat container factory. The factory is located next to the Hoa Phat Container Project in southern Ba Ria - Vung Tau Province.

Hong Hanh