Posted on 29 Feb 2016
Hoa Sen Group (HSG) has secured an order to export 20,000 tons of rolled steel sheets to the U.S., the first such big shipment of Vietnam bound for the American market. Delivery is set for next Monday.
The shipment worth US$10 million will be delivered at SP-SSA International Terminal (SSIT) in the southern province of Ba Ria-Vung Tau.
Le Phuoc Vu, chairman of HSG, said the U.S. market has strict requirements for quality, service, and delivery. The group started selling products to America in 2014 but has stepped up exports since September last year.
Vu said the shipment will mark an important milestone in export activity of HSG in particular and Vietnam’s steel sheet industry in general.
Vu expects that the Trans-Pacific Partnership (TPP) agreement will open up export opportunities for enterprises in 12 Pacific Rim countries, including Vietnam.
In the fiscal year 2014-2015, HSG earned US$314 million from shipping abroad 407,000 tons of products, up 10% in revenue compared to the fiscal year 2013-2014.
HSG’s products have been sold to 60 markets and outbound sales account for 40% of the group’s total revenue.
