Vinachem: preliminary wrap-up report of assignment of quarter III/2014 and deploying task of quarter IV/2014

03:19' PM - Tuesday, 14/10/2014
On Oct 3, 2014 in Ho Chi Minh City, Vietnam National Chemical Group (Vinachem) organized preliminary conference to report task of quarter III/2014, deploying task of quarter IV2014 and during the whole year 2014. Attending the meeting, there were Mr. Nguyen Van Thanh, Director of Department of Chemicals - Ministry of Industry and Trade; the leadership of group, heads and deputy heads of departments of Group, the leadership of unit members, the conference preside over by Mr. Nguyen Gia Tuong General Director and CEO of Group.



According to the report: In quarter III/ 2014, despite the tough condition but deploying actively to implement synchronous solutions, Vinachem has overcome difficulties to achieve good results: stable production and business, the value of industrial production and revenue higher than the same period, inventory decrease strongly, high profits; ensure to pay state budget, employment and income for employees. Business investment achieve positive results, the basic investment project progress closely. Restructuring Group Plan continues to accelerate deployment. Democratic regulation at grassroots level deploying from department of Group to unit members, many of unit member performing actively.

However, there was a number of exist need to overcome, namely: production and business target was not achive plan and lower than the same period. A number of unit member have production value, revenue, profit lower, inventory higher than the same period. Progress of the investment project was not achieve plan. Investment construction value lower than plan and the same period. Labour safety, working environment is not good, need to pay more attention.

Some specific targets achieved as follows: industrial production value in Quarter III/2014 estimated 10,573 billion VND, equal 96.3% compared with Quarter II and up 4.4% compared to the same period 2013. Accumulated of the first 9 months, industrial production value estimated at 30,690 billion VND, equal 100% compared to the same period in 2013, of which: fertilizers and pesticide product estimated 17,127 billion VND, down 3.4%; Apatite estimated 2,659 billion VND, up 11.2%; Rubber estimated at 5,446 billion VND, up 0.8%; electrochemical (battery) estimated 1,524 billionVND, up 4.5%; Detergents estimated 1,888 billion VND, up 11.6%; basic chemicals, industrial gases estimated 1,624 billion VND, up 3%; painted plastics and other products reduced 5.1% compared to the same period in 2013, revenue of quarter III estimated 10,953 billion VND, down 13.1% compared to quarter II and increased 11% compared to the same period in 2013. Accomulated in 9 months, revenue estimated at 34,123 billion VND, up 2.4% compared to the same period in 2013. Of which: fertilizers and pesticide products estimated 20,039 billion VND, up 0.1%; Apatite estimated 2,436 billion VND, up 5.5%; Rubber estimated 5,474 billion VND, up 5.8%; electrochemical (battery) estimated 1,649 billion VND, up 11%; detergent estimated 2,067 billion VND, up 8.7%; basic chemicals, industrial gases estimated 1,628 billion VND, up 3.9%; painted plastics and other products decreased 3.9% compared to the same period in 2013, profit of 9 months estimated 2,084 billion VND, by 80.8% compared to the first 9 months of 2013.Pay state budget of 9 months estimated at 2,405 billion VND, by 75% plan in 2014; of which: payment of profit after tax in 2013 under Decree No. 204/2013/NĐ-CP estimated 989 billion VND. Total exports and imports of commodity reached 129.2 millionUSD in Quarter III/2014, decreased 7.7% compared to the same period in 2013, 9 months reached 361.1 million USD, decreased 11.1% compared to the same period last year in 2013.

Addressing the meeting, Mr. Nguyen Anh Dung, Chairman of the Board Members indicated the exists of Group to overcome difficulties and emphasizes four key tasks for production business, investment, restructuring, creating and completing work plan.

The conference also heard presentations from leaders of unit members representing discussed about solution in promoting production business to accomplish the tasks of 2014.

Addressing at the conference, General Director Mr. Nguyen Gia Tuong emphasized 6 groups of tasks and solutions restructuring, production business plan, expanding markets, promoting consumption product, about investing construction focus on key project, strive to complete the task of this year and plan of period 2011 – 2015.



Earlier, Vinachem announced decision to appoint Mr. Bui The Chuyen held office as Deputy Director of Group.

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