15:12 | 25/06/2015 Companies
A report of the 2015 annual general meeting of shareholders of the Van Dien Fused Magnesium Phosphate Fertilizer Joint Stock Company (VADFCO) showed that from 2010-2014, the company exceeded most of the targets set by the general assembly of company shareholders with its revenue and after-tax profits respectively growing an average 11.7 percent and 12.4 percent per year. The general assembly of company shareholders expects VADFCO would earn higher revenue and profits in 2015 and build new fertilizer plants to promote its sustainable growth.
VADFCO General Director Hoang Van Tai
Since it began to operate in the form of a joint stock company on January 1, 2010, VADFCO has made nonstop efforts to go ahead and achieved notable successes. Despite numerous difficulties continuing to face the entire economy, all staff members of VADFCO have brought their creativity into play to contribute to the company’s development. Thanks to their solidarity, enthusiasm and technological innovation efforts, the company exceeded most annual targets set for 2014 and was happy to see improvements in its workers’ lives.
VADFCO Director Hoang Van Tai said, “We are confident of our ability to achieve further successes because our products are natural mineral fertilizers that are useful for the production of organic (clean) agricultural products. The agricultural sector’s new way is to create clean agricultural products, and natural mineral fertilizers are its first choice. Other kinds of phosphate fertilizer can dissolve easily in soil and be washed away by rainwater. They can also be fixed by metals such as iron or aluminum within about 48 hours in use. Therefore, the effectiveness of using these kinds of phosphate fertilizer is not high, just 25-30 percent. Meanwhile, Van Dien phosphate fertilizers contain many medium and micro elements that are good for plants. Moreover, Van Dien phosphate fertilizers do not dissolve in water but in the environment of exudation from the roots of plants. Therefore, they cannot be washed away by rainwater or fixed, helping plants absorb the most nutrients from the soil and become more disease-resistant but not polluting water resources. The effectiveness of using Van Dien phosphate fertilizers is very high, 95-97 percent. For these advantages, the demand for Van Dien phosphate fertilizers has always been higher than their output. Notably, VADFCO not only sells its fertilizer products in the domestic market but has also exported them to some countries such as Australia, Japan, the Republic of Korea, and Malaysia, with the annual export volume reaching 10,000-20,000 tonnes, earning millions of US dollars.
From 2010-2014, VADFCO exceeded all annual targets set by the general assembly of company shareholders with its revenue and after-tax profits respectively growing an average 11.7 percent and 12.4 percent per year. The lives of its workers improved. The company fulfilled its tax obligations and ensured the interests of its shareholders.
To achieve these successes, VADFCO has paid special attention to investing in technological innovation to increase its production capacity, improving the working conditions, ensuring safety and taking care of its workers’ lives. The company’s investments have been focused on improving the working environment and worker skills. VADFCO has invested in building a circulation system for treatment of 100 percent of wastewater and seven dust-filtering systems. It has also mechanized loading and unloading activities and automated its NPK fertilizer production line.
This year, VADFCO has faced difficulties in producing and selling fertilizers due to input price increases, unfavorable weather changes and growing market competition. Notably, the company has to concentrate capital on building a new fused phosphate and NPK fertilizer production plant in the town of Bim Son, Thanh Hoa Province. The general assembly of company shareholders expects VADFCO would earn higher revenue and profits in 2015 and build new fertilizer plants to promote its sustainable growth in ensuing years.
VADFCO expects the new fertilizer plant in Bim Son with an annual production capacity of 500,000 tonnes of fused phosphate and 200,000 tonnes of NPK fertilizer, using modern technology, will supply the market with the best products at reasonable prices, meeting market demands.
The Van Dien Fused Magnesium Phosphate Fertilizer Joint Stock Company (VADFCO) is a fertilizer business under the Vietnam National Chemical Group. It was set up and commenced production in 1963. The company has been operational for more than five decades and its total production capacity has now reached about 450,000 tonnes per year, including 300,000 tonnes of fused phosphate and 150,000 tonnes of NPK fertilizer.
VADFCO has received four titles of Labor Hero and People’s Armed Force Hero. It has been awarded by the World Intellectual Property Organization (WIPO). VADFCO was the only fertilizer business to stand among the Top Ten Vietnamese Brands 2011; Top Ten Vietnamese Golden Products 2012; Top Ten Perfect Products and Services 2013; Top Ten Vietnamese Creative Businesses 2014; and Top Ten Favorite Vietnamese Goods of Consumers 2014.