Hoa Phat Group restructures steel businesses

Wednesday, 30 December 2020 14:59:23 (GMT+3)   |   Istanbul

Vietnam-based steelmaker Hoa Phat Group has announced the establishment of Hoa Phat Iron and Steel Joint Stock Company with a charter capital of VND 39 trillion ($1.68 billion). The company’s activities will include investment, production and trading of construction steel.

Hoa Phat Group has also established Steel Pipe and Color-coated Steel Joint Stock Company for the investment, production and trading of steel pipes and colored galvanized steel sheet. The company has a charter capital of VND 3.5 trillion ($150.90 million).

On December 10 this year, Hoa Phat had announced its decision to restructure its organizational model by establishing corporations in charge of each field of operations of the group. Accordingly, the company has established four corporations up to now, also including Hoa Phat Real Estate Joint Stock Company and Hoa Phat Agricultural Development Corporation.

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