Source: Viet Nam News
The Hòa Phát Dung Quất Steel JSC has announced that it will apply SAP S/4HANA, a next-generation enterprise resource planning (ERP) software, for its iron and steel production complex.
The project will be carried out in the next ten months. Once the project is completed, the company will have an administration system that meets international standards and helps analyse business data in real-time. Company leaders will be able to quickly make decisions so as to improve the company’s competitiveness.
The Hòa Phát Dung Quất Steel JSC is the first in the Hòa Phát Group, one of the three largest steel producers in Việt Nam, to apply SAP S/4HANA.
The Hòa Phát Dung Quất iron and steel production complex project is on schedule, with the first line expected to be operational in the third quarter of this year, meeting demands of the central and southern regions.
RoK firms seek partnerships
A delegation of investors from the Republic of Korea (RoK) has met with the Hòa Phát Group last week to seek partnership opportunities.
The delegation, including Kunam Kim, Global Securities Director of KB Securities and Lê Thị Quyên, deputy general director of KB Security Việt Nam, visited two steel plants of Hòa Phát in the northern province of Hưng Yên.
The RoK firms showed interest in the steel production process and technology of Hòa Phát as well as the group’s growth prospects as its Dung Quất project nears completion.
Phạm Thị Kim Oanh, director for finance at Hòa Phát, said that the group has advantages in its river port system at the Hải Dương steel integrated complex. The firm is developing a similar system for the Dung Quất complex, which is expect to handle ships with capacities of up to 150,000 tonnes, she said.
The port has helped Hòa Phát reduce costs and improve convenience in import-export activities, which pushed the firm to rank among the top 50 biggest steel producers in the world, added Oanh.
She also highlighted that Hòa Phát is using Italian technology, which is friendly to the environment.
As the Dung Quất steel complex becomes operational, Hòa Phát’s competitiveness is expected to increase significantly, she stressed, adding that the group has focused on intensive processing and promoting added value of its products.
Currently, two major products of Hòa Phát are construction steel and steel pipes.
By the end of the first quarter of 2018, Hòa Phát Group reported revenue of VNĐ13 trillion (US$572 million), and post-tax profit of VNĐ2.2 trillion, up 25 per cent and 14 per cent year-on-year, respectively.