Hoa Phat steel pipe targets 14 per cent growth rate in 2018

In 2017, revenue of the Hoa Phat Steel Pipe Company Limited posted growth rate of 47 per cent increase from 2016. The company surpassed all of its set targets. Of which, the sale of galvanized steel pipe and other materials achieved the highest growth rate. The sale of galvanized steel pipe rose by 83 per cent to reach 200,000 toones while other materials increased by 2.8 times. The southern region had the highest sale growth rate among the company’s markets.

The information was released at the conference to review Hoa Phat Steel Pipe Company Limited’s results held in Hanoi on January 19^th 2018 with participation of all board of director’s members, head and deputy head of departments, its subsidiaries and plants nationwide.

In the context of increasing fierce competition in the market, the company has always paid attention to improve their quality of products and sale services as well as promoting products advertisement to consumers through different media channels. The relationship between Hoa Phat Steel Pipe Company Limited and its partners have been strengthened based on mutual benefit for further development. The closely co-operation with its agent system has helped the company develop suitable products with the market and maximize customers’ demand both in construction and civil.

The steel pipe sale in 2017 reached more than 600,000 tonnes with the rate of market share expansion up to 26.4 per cent. The galvanized steel pipe product recorded the highest growth rate thank to increasing demand. In 2017, with the target of expanding and developing the southern market, the Hoa Phat Steel Pipe Company Limited had continuously invested and expanded their production to quickly and timely meet with customers’ demand, thus contributing to the strong growth in the southern region.

Mr. Nguyen Manh Tuan, the company’s general director hailed efforts of its staffs, especially managers at its subsidiaries and plants. The company’s management board also asked staffs and plants to make more efforts in 2018 and the following years to enhance and maintaining its leading position in the market. It would promote improvement, expanding production and investing to upgrade its equipment and production lines to improve products’ quality. In addition, the company would apply information and technology into production management and best controlling from input materials to output.

Tuan said Hoa Phat Steel Pipe Company Limited would study to produce the steel pipe with size up to 325mm to meet with the market’s demand. This would be new strategic product to confirm outstanding of Hoa Phat in the steel pipe sector.

The company targeted to maintain application of the ISO 9001-2015 quality management system in 2018 and determined to apply Bravo software for all departments and plants with an aim to ensure better production and business management as well as enhancing control by barcode. Especially, the company would implement evaluation statistics on three main criteria including labour productivity, consumption standard and product quality. Of which, the material consumption control and technological improvement to enhance quality would be the most important target.

The company’s board of directors also set a growth rate target for steel pipe of 14 per cent, galvanized steel pipe of 20 per cent in 2018 in comparison with 2017. The Hoa Phat Steel Pipe Company Limited targeted to enhance exports to foreign markets to fully exploit capacity of its plants while affirming its brandname in the international market as one of key tasks in the upcoming time.

Nghi Tran