Hòa Phát’s Chairman, Mr. Tran Dinh Long, shared his vision: “In addition to manufacturing container flooring, Hoa Phat will produce high-end boards to meet the demands of the domestic and international furniture, transportation, and construction industries. 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, was granted an investment certificate on February 5, 2024. It specializes in producing various types of flooring, aiming to expand the Group’s product range and complete its container value chain. The company has invested in a flooring factory 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 factory is expected to have a capacity of 70,000 cubic meters per year (equivalent to 2.5 million square meters of products). The raw materials used for production include bamboo and rubber trees from plantations in Vietnam, adhering to FSC standards. The company uses a combination of PF and MUF adhesives, bamboo cores, and veneer to create flooring that meets all the technical criteria for container flooring, certified by EPA, CARB, and FDA.
With the advantage of using hot-press technology, up to 2,800 tons of pressure, multiple pressing stages, and the highest pressure currently available, Hoa Phat’s flooring exhibits superior characteristics compared to conventional flooring. It boasts an impressive load-bearing capacity of up to 7,260 kg/cm2, along with moisture resistance, strength, waterproofing, and fireproofing. Hoa Phat’s flooring products will cater to both the domestic and export markets.
“Hòa Phát Ventures into Premium Flooring Production, Aiming for Top 3 in 5 Years.”
“For its long-term strategy, Hoa Phat envisions dedicating 20% of its floorboard capacity to the container segment, with a focus on high-end, strength-graded boards. The remaining 80% will cater to the domestic market and export demands for premium structural wood products.”
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The Fukang Technology plant (owned by Foxconn) is an impressive venture with a massive investment of over VND 12,507 billion. With an annual capacity of 16 million products, the factory will be a powerhouse for Apple, manufacturing a diverse range of their sought-after goods.
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The United States is Vietnam’s largest export market for this billion-dollar industry.
Record-Breaking Shareholder Numbers for Hoa Phat: The Company Needs 5 My Dinh Stadiums to Accommodate Them All
Chairman of the Board of Directors, Tran Dinh Long, revealed that Hoa Phat currently has over 194,000 shareholders, the highest number on the stock exchange and a record for the company. This impressive figure showcases the strong support and confidence that investors have in Hoa Phat’s business and its future prospects. With a diverse range of shareholders, the company is well-positioned to continue its growth trajectory and solidify its position as a leading enterprise in the industry.
