10:32 | 05/07/2016 Companies
(VEN) - Despite difficulties facing trade and production activities, the Van Dien Fused Magnesium Phosphate Fertilizer Joint Stock Company (VADFCO) completed its targets for 2015 thanks to carrying out drastic measures, widely advertising their products and ensuring stable incomes for its workforce. The company’s biggest goal this year is to continue to strongly develop its fertilizer brand.
Fertilizer trade and production activities faced many difficulties in 2015 due to the economic crisis, high prices of key input materials such as coal, electricity and ores, and value-added tax changes leading to an increase in production costs. In addition, severe weather conditions negatively affecting agricultural production, increasing fertilizer supplies, fiercer competition in the market and a mass of counterfeit and low-quality fertilizer products were also mentioned. In particular, the company focused its capital on construction of a new fused phosphate and NPK fertilizer production plant in Thanh Hoa Province’s Bim Son Town.
VADFCO General Director Hoang Van Tai said that given the context of such difficulties, the company’s leaders had expressed their determination to enhance administration efficiency and complete the set targets in 2015 by carrying out a series of measures such as issuing several regulations in accordance with the law and practices, strengthening the staff, establishing the management board for the construction of the new plant and directing and supervising financial activities as well as fertilizer production and sales. In particular, being listed on the Ho Chi Minh City Stock Exchange and accelerating progress on the new plant were mentioned.
Thanks to drastic solutions, the company’s targets for trade and production activities in 2015 were basically completed, while their new products had gradually dominated the market. The company’s shares were officially listed and traded on the Ho Chi Minh City Stock Exchange on June 23, 2015.
VADFCO achieved revenues of VND969.7 billion in 2015 for fertilizer consumption of 296,125 tonnes. The company’s total development investment capital also reached VND33.305 trillion, while its workforce remained stable. In addition, VADFCO received the prime minister’s excellent emulation flag in 2015.
As a fertilizer production unit, VADFCO has paid great attention to environmental protection with a range of measures such as raising the level of awareness among officials and employees. In particular, the company has constantly conducted research and promoted investment in science and technology, while building wastewater treatment and dust collection stations. Thanks to environmental protection measures, the company has always fulfilled environmental standards through exams.
Despite difficulties facing trade and production activities, the company has always been a pioneer in social and charitable activities in Thanh Tri District with VND1.23 billion pouring into those activities in 2015.
For many years, the company has paid attention to producing many kinds of fertilizers serving organic agricultural cultivation as well as products with increased drought and salt tolerance, alum therapy, worm and disease prevention in response to climate change. Moreover, the company has promoted the development of clean farming models, organized training courses for farmers in using fertilizer products in order to improve productivity and built green agricultural performance models in northern and central provinces and the Central Highlands.
Solutions needed to heighten brand awareness
VADFCO will continue conducting research to provide high quality and environmentally friendly products and fertilizer categories serving organic cultivation for the market.
Organizing performance models for main crops such as industrial crops, rice and vegetables and opening seminars to exchange knowledge between scientists and farmers are necessary.
Promoting investment in improvements of machinery and equipment, enhancing productivity, reducing material depreciation, eliminating liquid and solid waste and improving environmental landscape to enhance the company’s image in the community are also mentioned.
The company will also improve working conditions for employees and will be ready for dialogue with the public in addition to improving sales and business methods, strengthening distribution systems and implementing delivery.
Strengthening cooperation with local market management authorities and consumers in the fight against counterfeit and low-quality goods, guiding customers to identify the company’s products has also been underlined.
The company will focus on completing the set targets this year such as achieving revenues of VND945.15 billion and average income of VND10.63 million per person a month, while ensuring sufficient supplies for the domestic market and accounting for more market share in foreign markets.