(seafood.vasep.com.vn) From 5 first partners in 1998, by 2016, Vinh Hoan Corp had nearly 300 partners from more than 40 countries around the world.
In 2016, the export turnover of the company hit US$272 million, picking up 15% out of a total of 200 seafood enterprises. The company owns a closed production chain with five pangasius processing factories with the total capacity of 750 MT/day in 2016, two byproduct processing factories (fishmeal, fish fat) with the total capacity of 70,000 MT/year. Besides, the company also has a collagen and gelatin factory (extracted from fish skin) with a capacity of 1,000 MT of gelatin per year and 1,000 MT of collagen per year. The company can self-supply 65% of raw pangasius for its processing plants.
The growth rate of the company’s export turnover in the past 20 years was an average of 19% per year, that in the last 10 years (2007-2016) was 15%, which is 2.5 time higher than the general growth rate of the whole sector (6%).
In the early 2016, Vinh Hoan set a three-year plan with the revenue growth of 15-20% per year, and expected to reach VND10,000 billion in 2018 by expanding its production scale in parallel with product and market development. Sales in 2016 was up 12% year on year. In addition to remaining its current markets, the company is focusing on expanding its direct distribution channels and opening up 5 new markets namely Pakistan, Thailand, India, Greece and Reunion. Shipments to Japan, China and Mexico showed the impressive growth of 60%, 135% and 80%, respectively. Moreover, the company has successfully put its products with the brand of Vinh Foods into Mercadona, the largest supermarket chain in Spain.
In early 2017, the company completed the acquisition of 100% stake in Thanh Binh Dong Thap Fisheries Jsc. The company completed the construction of two factories of Van Duc Tien Giang, one for processing pangasius fillets, one for value-added products. The acquisition of Thanh Binh Company meets Vinh Hoan's capacity expansion needs, which rises by 20%. In addition, Vinh Hoan is planning to build a fishmeal and fish fat factory to optimize its byproducts from pangasius.
Compiled by Dieu Thuy