The key to rapid growth of Hanoi Plastics JSC
“Independence and proactiveness in technology is a big dream of many businesses. And in order to realise that dream, it is necessary to invest in research and development (R&D), facilities and people, especially a team with good expertise and background knowledge. Gathering this team, creating conditions for them to work together is a priority in the field of support industry today,” said Bui Minh Hai, Chairman of Hanoi Plastics Joint Stock Company.
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Hanoi Plastics Joint Stock Company is focusing to invest in precision mechanics and mould production.(Photo courtesy of the firm) |
When focusing on this field, the An Phat Holdings Group has researched and given clear orientations and strategies to carefully build infrastructure, invest in equipment, and apply technologies for the manufacturing of important spare parts for big companies. In particular, the group has invested in the Hanoi Plastics JSC to bring it into an enterprise capable of designing and manufacturing all kinds of moulds from super-precision to large-sized ones serving the automotive industry. There are few businesses in the country that can produce such moulds.
Instead of having to work with one or more third and fourth parties to design, manufacture and test moulds, which increases production costs and time, the end-to-end manufacturing process within the company has helped improve its quality and reduce costs. With two factories in Hanoi and Hai Duong with the most modern mould system in the north, the company is now competitive enough to strongly develop this segment.
The company has attached great importance to the development of core human resources. When working with foreign customers, the company completes the basic criteria, then coordinates with consultants to come up with products that exactly meet partners' requirements. Every year, HPC holds training courses for key human resources with experts and provides effective solutions in production.
“We believe that improving human resources is an extremely important strategy to create spare parts with high complexity,” he added.
In addition, HPC plays an important role in support industry development programmes organised by the Ministry of Industry and Trade (MoIT), to expand, connect trade, and share experiences with many businesses, departments and branches in the same field.
The company has actively participated in cooperation programmes to improve production organised by MoIT and foreign direct investment (FDI) enterprises. The An Trung Industries Limited and Vietnam Pattern Manufacture and Precision Mechanical Company Limited (VMC), HPC’s members, are also seen by FDI enterprises as excellent enterprises in the programmes. They have sharply improved their production capacity and quality control.
82.7 million USD revenue target set in 2021
The Hanoi Plastics JSC will focus on studying new products, enhancing its strength in manufacturing plastic moulds and industrial products, especially for Japanese customers and FDI companies in 2021. The company plans to maintain and develop current customers in the field of plastic spare parts for automobiles, motorcycles, electronics such as Toyota, Honda, Panasonic, LG, Piaggio, Samsung, Brother and Foxconn. This is also the year its member companies are set to run at full capacity, deeply participating in the value chain of the support industry.
Of which, the VMC with a capacity of 230 plastic injection moulds a year will meet customers’ diverse needs from cars and motorbikes, printers, computers to electronic devices such as televisions and phones.
The An Trung Industries Co Ltd has expanded its electronic product portfolio, targeting FDI companies manufacturing mobile phones. At the end of 2020, the company was also selected by Foxconn as a supplier. This opens more growth opportunities for HPC in 2021.
To realise this strategic goal, all factories, infrastructure, human resources, and production equipment are synchronised according to the strict standards of customers, supported by foreign experts directly in design and installation assistance.
With those steps, the Hanoi Plastics JSC sets a revenue goal of 1.9 trillion VND in 2021, up 78.5 percent compared to 2020 and after-tax profit of 150 billion VND as well as further penetrating the global value chain.
Source: VNA