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|Nam Kim Steel was honoured at Vietnam Value Programme 2020 for its handling of COVID-19|
The steel and coated steel manufacturing sector in the domestic market suffered a negative impact by the pandemic that caused an oversupply. Nam Kim Steel was not untouched by the difficulties as numerous countries went into lockdown from March to May. The impact lasted until the third quarter.
Vo Hoang Vu, general director of Nam Kim Steel said that the company faces difficulties in reaching the target of 700,000 tonnes of steel in consumption this year. The group has reduced its targets to VND12 trillion ($521.74 million) in revenue, slightly down against 2019, but VND200 billion ($8.7 million) in after-tax profit, up sharply on-year.
Hoang Vu said that the group will focus on completing its targets, including expanding its retail system and distribution channels. Besides this, the group will study and manufacture the high-end segment.
Nam Kim Steel uses modern technology and equipment frtom the world’s leading corporations in the steel industry, including SMS (Germany) and Drever (Belgium). The company sources raw materials from well-known and enormous suppliers such as Nippon Steel (Japan), Hyundai Steel (Korea), CSC (Taiwan), and Formosa (Vietnam).
At all stages of production, its products are subject to severe quality control processes. Thereby, the group has achieved certificates of the strictest qualified standards in the world such as JIS (Japan), AS (Australia), ASTM (US), EN (Europe), ISO 9001, and ISO 14001.
The Vietnam Value Programme, during the past 17 years, has contributed to improving the awareness of the business community about the role of building a brand for their companies and products via offering quality, innovation, and pioneering capacity. Many of these enterprises have established leading positions in their sectors and maintained high-speed growth in both revenue and profit.
The programme has no limits for the number of participating businesses and registered products, and the Ministry of Industry and Trade always encourages enterprises to meet the criteria and apply for selection. This year’s selection took place in a special situation, as many companies have been dealing with the pandemic.