Hoa Phat Steel holds largest market share

Vietnam Steel Association (VSA) released a market report in March whereby Hoa Phat Steel for the first time held the largest market share among steel-makers of 16 percent with total output of 51,329 tonnes.

Hoa Phat Group (HPG) has seen its steel products become more competitive in the market due to its success in completing the first phase roll out of the Hoa Phat Cast Iron and Steel Complex. At present, HPG is carrying out the second phase of this project. In early April, the group signed contracts for purchasing new steel production chain from Italy-based Danieli Group, one of the three largest equipment suppliers in the steel industry.

It was expected that the second phase of Hoa Phat Cast iron and Steel Complex would start producing the first batch of steel products in September 2012, raising the group’s production capacity to 1.3 million tonnes of steel billet per year, bringing in annual revenue from steel production and trading sector of $1 billion for the group. – Vietbiz24

Tags: Hoa Phat Steel

Posted by VBN on Apr 15 2011. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry