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STK launches a $32.74 million plant in Tay Ninh
STK leaders inaugurate Trang Bang phase 3 fibre plant in Tay Ninh Province on September 18. — Photo ndh.vn
TAY NINH (Biz Hub) – Century Synthetic Fiber Corporation (STK) inaugurated a fibre plant, Trang Bang phase 3, worth VND 735 billion(US$32.74 million) on September 18.
The plant, located in the southern province of Tay Ninh’s Trang Bang Industry Zone, which was constructed in May 2014, increased 40 per cent of its total capacity, to produce 52,000 tonnes per year.
With the phase 3 plant, STK increased its total investment capital to VND1.6 trillion ($71.7 million).
According to STK chairman Dang Trieu Hoa, the plant employed one of the most advanced production management systems known as POC that could not only manage operations, jobs, statistics and data, but also monitor the quality.
Modern production lines and machines at the plant would boost the capacity and quality of products and enable the creation of new products with higher speed and at lower cost, he added.
Besides, the corporation would also work on new products such as quick drying fibre, UV resistant, flame retardant and recycled fibre to meet the demand of the international fashion industry and also serve the local industry.
Hoa said that by the end of this month, installation of machinery at the plant would be complete. Once operational, it would supply anadditional 15,000 tonnes of partially oriented yarn (POY) and 15,000 tonnes of draw texturised yard (DTY) per year.
STK also planned a VND9275 billion ($12.2 million) plant at Trang Bang phase 4 to increase the total capacity to 60,000 tonnes per year by Q3, 2016.
Established in 2000, with the first plant in HCM City’s Cu Chi District, STK now has four plants in Viet Nam and became one of the leading fibre manufacturing industries, with customers such as Nike, Adidas, and Uniqlo, in addition to Puma, Guess. — VNS
BY
Quote: “http://www.vietnambreakingnews.com/2015/09/stk-launches-a-32-74-million-plant-in-tay-ninh/“
STK fiber factory inaugurated
On September 18, Century Synthetic Fiber Corporation (STK) held the inauguration ceremony of the third phase of the Trang Bang fiber factory located in the southern province of Tay Ninh’s Trang Bang Industrial Zone, according to newswire NDH.
The expanded factory, which was constructed in May 2014, represents the total capital of VND735 billion ($32.9 million).
“The third phase of the Trang Bang fibre factory will officially start operations by the end of September. It will supply an additional 15,000 tonnes of partially oriented and 15,000 tonnes of draw textured yarn per year, increasing the corporation’s capacity to an annual 52,000 tonnes of fibre, a 40 per cent boost compared to the corporation’s existing capacity,” STK chairman Dang Trieu Hoa stated.
“The corporation’s net profit is expected to reach VND160 billion ($7.2 million) by 2016, 39 per cent more than its 2015 target, once the fibre factory starts operation,” he added.
The new facility will be equipped with an advanced production management system known as POC (Plant Operating Centre), linking all manufacturing lines to the central control room and the accountant network. Investing into modern technologies helps the corporation join the fourth industrial revolution and meet the ever-increasing international standards applied to fibre.
STK harbours further plans to construct the $12.5 million fourth phase of the Trang Bang factory, aiming to increase the corporation’s capacity to 60,000 tonnes of fibre by the third quarter of 2016.
Established in 2000, deploying the first plant in Ho Chi Minh City’s Cu Chi district, STK now has four plants in Vietnam and became one of the country’s leading fibre manufacturers, with big-shot customers including Nike, Adidas, and Uniqlo, in addition to Puma and Guess.
By Kim Oanh
18/09/2015
Quote: “http://en.baomoi.com/Info/STK-fiber-factory-inaugurated/5/578689.epi“
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Vietnam’s Century Synthetic Fibre to add DTY capacity
Replica of new plant
Century Synthetic Fibre Corp, a leading company in manufacturing
and trading of draw textured yarn (DTY) in Vietnam, held a
groundbreaking ceremony earlier this month to set up a new plant in
Trang Bang Industrial Zone, Tay Ninh province.
The new plant, being established with a total investment of US$
33.9 million, is expected to go operational from the third quarter of
2015. However, the plant would become fully operational in the first
quarter of 2016, according to Dang Trieu Hoa, chairman of the company.
For investment, the company would be borrowing 70 percent of the
funds from financial institutions and the remaining 30 percent is
expected to come from equity shares.
The company would set up the most modern technology for automatic DTY spinning, manufactured by Oerlikon (BARMARG, Germany).
The new plant would help the company have enough fibre products to
take advantage of the Trans-Pacific Partnership (TPP) agreement. It
would also enable it to cooperate with other partners to expand
production to the fields of textile dyeing, completing its supply chain.
Century Synthetic Fibre Corp was founded in June, 2000, with an
initial capacity of 4,800 tons of DTY. Today, the company has increased
its capacity by more than 8 times to 37,000 tons of yarn per year. More
than 70 percent of the company’s output is exported to other countries.
In 2009-13, the company’s sales have grown at an average rate of 41
percent per year.
May 24, 2014 (Vietnam)
Quote: “http://www.fibre2fashion.com/news/industrial-textiles-news/newsdetails.aspx?news_id=163780“
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Fiber firm sells shares at a premium
HCMC – Century Synthetic Fiber Corporation (STK) sold five million shares at an average price of VND21,124 each at its initial public offering (IPO) Tuesday, well above the starting price of VND18,000.
The enterprise offered three million shares for public auction at the Hochiminh Stock Exchange (HOSE). Red River Holding, its foreign shareholder, also offloaded two million shares.
Six organizations and 21 individuals snapped up the five million shares and foreigners bid for 0.18% of the total put up for sale.
With winning prices ranging from VND22,700 to VND25,000 each share, the auction brought in over VND120.6 billion. Of the figure, STK got around VND70 billion.
Earlier, the company expected to mobilize VND54-56 billion to fund its factory expansion in Trang Bang District, Tay Ninh Province. The project has a total investment of VND729 billion. Once completed, the factory will have an annual capacity of 52,000 tons compared to the current 37,000 tons.
The project will start running at 50% capacity in the third quarter of 2015 and at full steam in the first quarter of 2016.
The corporation, which is capitalized at VND393 billion, has plans to list on HOSE in the second quarter of 2015. It plans an annual dividend payment at 15% for shareholders in both cash and stock.
Tran Thu
Thursday, Dec 11,2014,10:42 (GMT+7)
Quote: “http://english.thesaigontimes.vn/38373/Fiber-firm-sells-shares-at-a-premium.html“
