Hoa Phat Group exports steel to Australia

Friday, Jul 04, 2014 17:41

Hoa Phat Group has exported its steel coils to the Australian market in June. In the first six months of this year, the enterprise has exported approximately 72,000 tonnes of steel abroad. — Photo nld.com.vn

HA NOI (Biz Hub) — Steel coils of Hoa Phat Group were exported to the Australian market for the first time on June 26, with the second delivery being made three days later.

Australia has imported steel coils mostly from countries like Indonesia, Taiwan and Turkey. The Hoa Phat Group has become the first Vietnamese enterprise to export them successfully to Australia.

Pham Thi Bich Ngoc, Director of Hoa Phat Commerce Joint Stock Company, said that although the batches had not brought much profit, this was the group's first success in expanding its exports, not only in steel mills but also in steel for construction material.

Hoa Phat signed a contract to provide steel to Laos, Thailand and the Philippines, and introduced its products to other regional markets. From the end of 2013 to June 2014, the enterprise exported approximately 72,000 tonnes of steel abroad.

Hoa Phat Group, founded in August 1992, specialises in diverse fields such as construction machines, furniture, steel and real estate Its annual revenue is about US$900 million and it is expected to gain $1.2 billion in 2014.— VNS

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