Hoa Phat group ranks third on construction steel market share

Hoa Phat Group Joint Stock Co (coded HPG) has recently announced that till the end of March, its construction steel market share increased from 8.6 percent to 10.5 percent year-on-year.

According to the Vietnam Steel Association (VSA)’s statistic, in Q1, Vietnam Steel Corp (VNS)’s members accounted for 29.7 percent, VNS’s joint venture companies accounted for 22.9 percent and the remaining market share belonged to other steel makers with 47.4 percent.

Hoa Phat steel firm ranked the third on steel consumption with 10.5 percent of the country’s market share, rising 1.9 percent from a year earlier.

On April 26 at the headquarters of Bank for Investment and Development of Vietnam (Bidv)’s Ha Thanh Branch (81 Tran Hung Dao St, Hoan Kiem Dist, Hanoi), a short term credit contract worth 320 billion dong was signed between HPG’s subsidiaries including Hoa Phat Furniture Joint Stock Co, Hoa Phat Refrigeration Engineering Ltd Co, Hoa Phat Trade Ltd Co and Bidv Ha Thanh.

According to HPG’s leader, the credit is to support the group’s working capital in 2010 and business and production activities. In details, Hoa Phat Furniture Co’s credit is worth 120 billion dong, 120 billion dong for Hoa Phat Refrigeration Engineering Co and 80 billion dong for Hoa Phat Trade Ltd Co.

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Tags: Hoa Phat Group, Vietnam steel market, vietnam stock, Vietnam stock market

Posted by VBN on Apr 28 2010. Filed under Steel, Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry