First grade labour medal for all of Vinausteel’s work

14:11 | 07/11/2010
Vinausteel, a joint venture between Vietnamese and Australian companies, has strengthened its position as one of the leading steel manufacturing companies in Vietnam.

The steel-maker on November 10 will receive the first grade labour medal from the Vietnamese government, underscoring its great contribution to the country’s economic development as well as affirming the leading position of the company in Vietnam’s steel market.

Vinausteel board chairman Lam Van Hung, who was also the company's general director from August  2006 to August 2010, will also receive the second grade labour medal at the same time.

The firm is a shining light in the local steel sector

The medal granting ceremony coincides with the 16th year anniversary of the company. This is the third time Vinausteel has received labour medals from the Vietnamese government. Twelve years ago, the Vietnamese government grated Vinausteel a third grade labour medal and in 2004 the company received a second grade labour medal for its contribution to the country’s economy.

Starting operations in 1994 Vinausteel – joint venture between Vietnam Steel Corporation and Australia’s Vietnam Industries Investment Ltd – is now among 500 largest companies in Vietnam and is one of 10 outperforming companies in northern Haiphong city.

The steel-maker has produced two million tonnes of steel products since 1994, according to the company. Total revenues of the company have reached about $825 million and Vinausteel has contributed $44 million to the state’s budget over the past 16 years.

To enhance its competitiveness, the company has focused on investing into advanced manufacturing lines, improving the quality of products and post-sales services. In 2008, Vinausteel upgraded its kiln system so as to reduce production costs.

Although the new kiln system is still under a trial process, but it has contributed to improve the effectiveness of the company’s plant. Last year, Vinausteel manufactured 203,000 tonnes of steel, 12 per cent higher than its initial plan.

The company also aims for sustainable development by improving living standards of its workforce. About 77 per cent of staff and workers have been working for Vinausteel for more than 10 years.

With the motto of “perfect quality and service”, Vinausteel is now one of the most well-known trademarks in Vietnam’s steel market. It was the first business to meet quality standard of ISO 9001:2000 and environment management standard of ISO 14000:2004. Vinausteel is also the first Vietnam-based steel-maker to win the Asia-Pacific Quality Award in the United States.

So far, the company’s products have been used in many key projects in Vietnam, including Bach Ho power-gas-fertiliser project, trans-Asia highway, Yaly hydroelectricity plant, hydroelectricity Can Don plant, Kien Bridge in Haiphong, Thanh Tri Bridge  and My Dinh National Stadium in Hanoi. The products are now used for building many urban development and industrial projects.

Vinausteel announced that its sales kept on increasing in recent years though the market were negatively impacted by global economic downturn.

Besides business operations, Vinausteel also focuses on corporate social responsibility activities. During the past 15 years, Vinausteel contributed VND21 billion ($1.05 million) to charitable funds such as “Swing for the kids” fund initiated by VIR.

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