Thursday, December 8 2016

VietNamNews

NTP reports profits up, merger formed

Update: March, 15/2016 - 09:00
Tiền Phong Plastic Joint Stock Company plans a merger with Năm Sao Plastic Company in Hải Phing City. — Photo cafef.vn

HÀ NỘI (VNS) — Tiền Phong Plastic Joint Stock Company (NTP) in 2015 witnessed a year-on-year increase of 22 per cent in revenue, 13 per cent profits, and a merger with another plastics company.

This has been announced in the NTP’s report issued to its shareholder general meeting, which will be held on March 26.

This year, the NTP has planned a revenue of VNĐ3.9 trillion (US$174.1 million), an increase of 10 per cent over 2015 and a profit of VNĐ415 billion, an increase of 7 per cent respectively.

The merger it announced last year was with Năm Sao Plastic Limited Company, which has a charter capital of VNĐ21 billion and manufactured plastic products for buildings in the northern city of Hải Phòng.

Under the schedule, NTP will compete a new factory specialising in producing plastic pipes of PEHD PPR in about 62,000 hectares of land of the former Năm Sao Company by next year.

Năm Sao Company will then be one of NTP’s subsidiaries.— VNS

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