Hòa Phát Floor Manufacturing Plant
Flooring will be the newest addition to the diverse range of products offered by the Hoa Phat Group (code: HPG)
“In addition to manufacturing container flooring, Hoa Phat will produce premium flooring to meet the demands of the domestic and international furniture, transportation, and construction industries,” shared Mr. Tran Dinh Long, Chairman of Hoa Phat Group. “Our goal is to become one of the top three flooring manufacturers in Vietnam by 2030.”
The flooring manufacturing company, a subsidiary of Hoa Phat Group, received its investment certificate on February 5, 2024. It specializes in producing various types of flooring to expand the Group’s product portfolio and complete its container value chain.
The company has invested in a flooring manufacturing plant located in Lot 35, Road D.12, Chau Duc Industrial Park, Nghia Thanh Commune, Chau Duc District, Ba Ria-Vung Tau Province.
To ensure the highest quality flooring, Hoa Phat has invested in the most modern production line. The plant is expected to have a capacity of 70,000 cubic meters per year (equivalent to 2.5 million square meters of products annually). The raw materials used in production include bamboo and rubber trees from plantations in Vietnam, adhering to FSC standards. The company utilizes a combination of PF and MUF adhesives, bamboo cores, and veneer to create flooring that meets all the technical criteria of container flooring, certified by EPA, CARB, and FDA.
With the advantage of using hot-press technology, a pressing force of up to 2,800 tons, multiple pressing stages, and the highest pressure currently available, Hoa Phat flooring exhibits superior characteristics compared to conventional flooring. It boasts an impressive load-bearing capacity of up to 7,260 kg/cm2 and is highly resistant to moisture, load, water, and fire. With this advanced technology, Hoa Phat confidently supplies its flooring products to the domestic market and targets exports.
In terms of business plans, Hoa Phat sets an ambitious target for 2025 with a revenue goal of VND 170,000 billion and a post-tax profit of VND 15,000 billion. The Dung Quat 2 project’s first phase has been operational since the end of the first quarter, producing 1.4 million tons of HRC steel, a 47% increase compared to 2024.
The second phase is expected to commence operations in September 2025, with full capacity reached in 2028, producing 5.6 million tons of HRC steel per year. Upon completion of the Dung Quat 2 project, Hoa Phat’s steel production capacity is estimated to reach approximately 15 million tons.
Regarding participation in railway projects, such as the North-South high-speed railway and urban railways, Hoa Phat has been entrusted with researching and producing high-quality steel, particularly steel rails for the North-South high-speed railway and connecting lines to China and urban railways.
For the first quarter, Hoa Phat achieved impressive results with a revenue of over VND 37,900 billion and a post-tax profit of VND 3,300 billion, representing a 22% and 16% increase, respectively, compared to the same period in 2024.
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