Local tungsten producer announces big revenues

HÀ NÔI — Masan High-Tech Materials Corporation announced its net revenues in  二0 二 一 increased  八 六 per cent to reach more than VNĐ 一 三. 五 trillion (US$ 五 八 六. 九 million), thanks to the consolidation of the German tungsten producer and the higher price of tungsten last year.

In the Annual General Meeting of Shareholders on Monday in Hà Nội, the firm’s Núi Pháo Mining, the world’s largest Tungsten mine excluding China, announced it recorded an increase in production of  九 七 per cent from  二0 二0.

Production included  二 六 per cent from recycling tungsten scraps and  七 四 per cent from the primary supply sources in the mine in Thái Nguyên Province.

According to the firm, the APT price for  二0 二 一 reached $ 二 八 六 for each Metric Ton Unit. In  二0 二0 it was $ 二 二 二.

Craig Richard Bradshaw, the firm’s CEO, said: “Masan High-Tech Materials performed strongly in  二0 二 一 despite the challenges of the global COVID- 一 九 pandemic and its subsequent impact on global supply chains and transport systems. We achieved record revenue for the year along with record tungsten production and recycling rates”.

The integration with the tungsten business platform of H.C. Starck (HCS) operating in Germany, Canada and China last year helped the firm enjoy its more than  一00 years of experience in HCS as well as promote global business restructuring with the goal of improving operational efficiency and expanding the business and product portfolio.

The HCS business contributed significantly to the overall result of the firm with an EBITDA of VNĐ  七 四 六 billion, whilst the Vietnam-based businesses of Núi Pháo  Mining and Masan Tungsten Company contributed VNĐ 二. 三 trillion to the overall result.

The firm told its shareholders it would invest more in innovation and development to deliver value with new customer-centric products specifically tailored for the electric mobility and  三D printing segments and develop new analytical equipment, which was now in the prototyping stage, having had been patented in late  二0 二 一.

Dominating the high-tech materials manufacturing industry, the firm has  一 六 domestic patents,  八 七 international patents,  五 四 application patents,  四0 ongoing scientific projects and  三 二 projects in the ideation stage.

Sharing the firm’s strategic vision for  二0 二 二- 二0 二 五, Danny Le, chairman of the firm, said:  “In the very near future, Masan High-Tech Materials will be more than a supplier of strategic high-tech materials, partnering with disruptive consumer technology platforms to create direct-to-consumer products where tungsten is a key element. Most importantly, we envision a circular platform where we can recycle these products to drive sustainability and productivity.”

In the context of global economic recovery after COVID- 一 九, positive signals in the tungsten market and the shift from gasoline to electric vehicles, Tungsten prices will be likely to go up in  二0 二 二, and the firm is expected to achieve a revenue of about VNĐ  一 四. 五 trillion to VNĐ 一 五 trillion pre-allocated net profit of VNĐ 三00 million to VNĐ 五00 billion to its shareholders.

To encourage the employees, it announced the employee stock ownership program at the price of VNĐ 二0,000 each share in the second quarter of  二0 二 二.

Based in north Việt Nam, the firm is now the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Việt Nam, Germany, Canada and China.

As the largest manufacturer of mid-stream tungsten products outside of China, the firm CEO said: “Instead of just supplying key materials to make smartphones, cars, planes, and submarines, Masan High-Tech Materials may one day create practical consumer products for these critical industries."

Yesterday, the firm’s shares closed at VNĐ 二 五,000  on the Unlisted Public Company Market. — VNS