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Premium Vinaconex Tiles: Gradually Penetrating Foreign Market

Premium Vinaconex Tiles: Gradually Penetrating Foreign Market

The Vietnamese construction market has made remarkable progresses in the past years. The development of this market is fuelled by the expansion of the building material production industry. Many construction material production companies have bravely invested in investing in machinery and equipment to manufacture products of premium quality to occupy the market.

As a leading constructor in Vietnam and a leading investor in giant real estate projects, VINACONEX has studied and invested in the production of building materials. However, products of common properties will be uncompetitive against traditional products of lower prices made by long-standing companies because they have been present on the market for the long time and their machinery and technology have been depreciated. Thus, think tanks of VINACONEX opted out the investment in state-of-the-art technology and machinery to manufacture favourite premium building materials in Vietnam and foreign markets.

From this direction, VINACONEX imported modern machinery from Breton SpA Company of Italia to manufacture artificial granite stone tiles, Terastone and Brestonstone. The products have a wide range of colours and sizes and have a stable quality. To manage and operate this modern production line, VINACONEX set up the Vinaconex High-Grade Tile Production Joint Stock Company. The production line is equipped with the latest machinery and technology from Breton SpA, enabling the company to manufacture and supply premium tiles. VINACONEX is also the unique firm in Southeast Asia to use machinery and technology of Breton SpA.

After three years, VINACONEX tile products with superior quality and diversity have been exported to more than 30 countries in five continents, including Australia, the Us and the EU. The export earnings are estimated to reach US$16 million in 2007 and US$24 million a year from 2008. During the visit to the APEC Summit 2007 in Australia with State President Nguyen Minh Triet, the company signed an agreement worth of US$60 million to export its tiles to WK Company of Australia in five years.

The sales of the company and export earnings soared year after year in recent years. It recorded VND135 billion revenue (US$8.43 million) and US$8.04 million export earnings in 2005, VND209 billion revenue and US$12.02 export revenue in 2006 and estimated VND265 billion revenue and US$16 million export earnings in 2007.

VINACONEX also contributed its capital to the establishment of Stone Vietnam JSC to manufacture stone interiors using stones manufactured by the corporation. It agreed to invest US$44 million with WK Company of Australia to build its second Bretonstone stone production factory in Vietnam. At the same time, VINACONEX also expanded its production capacity to increase the sales.

Under the development strategy in the coming years, the company will maintain and expand its export to foreign markets.

(Hau Giang - Vietnam Business Forum)

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