Pomina Flat Steel JSC Announces New Shareholders and Strategic Development Plan for 2025
Pomina Flat Steel Joint Stock Company, formerly known as Pomina Flat Steel Company Limited, has undergone a significant transformation, with changes in its shareholder group and future business direction. Established in 2017, the company was previously wholly owned by Pomina 2 Steel Corporation. As part of its growth strategy, Pomina Flat Steel has transitioned to a joint-stock model, involving a fresh shareholder group and a strategic development plan to propel the company forward.
The company’s recent transformation includes the successful transfer of all shares to new shareholders in 2024. Among the new shareholders are prominent business figures such as Mr. Do Xuan Chieu, Ms. Do Thi Kim Ngoc, Mr. Do Duc Chung, and Mrs. Do Dieu Huyen. With this new structure in place, the company is poised to accelerate its development and expand its operations in the competitive steel industry.
Share Transfer and New Shareholder Structure
In 2024, Pomina Flat Steel Joint Stock Company completed a full transfer of ownership, marking the transition from its previous structure under Pomina 2 Steel Corporation. The new shareholder group is now set to guide the company into a new era. Mr. Pham Van Truong has been appointed as the legal representative responsible for managing the company’s daily operations, including overseeing production and business strategies.
This shift to a joint-stock model signifies a major step in Pomina Flat Steel's journey, ensuring that the company is well-equipped to adapt to the ever-changing market dynamics while benefiting from enhanced operational flexibility. The transition aims to increase shareholder engagement, facilitate growth, and enhance financial performance moving forward.
Achievements in 2024
Pomina Flat Steel’s successful year in 2024 has laid a strong foundation for future growth. Under the leadership of Mr. Tran Van Vinh, Chairman of the company, Pomina made significant strides in several key areas:
• Increased Charter Capital: The company boosted its charter capital to 1,200 billion VND, providing a stronger financial base to support expansion and investment.
• Reduced Bank Debt: Through careful financial management, Pomina reduced its debt at banks, enhancing its credit standing and operational flexibility.
• Optimized Production Lines: The company worked to stabilize its organizational structure and streamline production processes, maximizing efficiency and output.
• Export Promotion: Efforts to increase exports were successful, helping Pomina reach a broader market and diversify its revenue streams.
These achievements demonstrate Pomina Flat Steel’s ability to thrive under new ownership and capitalize on emerging market opportunities. With a reinforced financial position and optimized operations, the company is prepared to tackle the challenges and opportunities that lie ahead in the steel industry.
Strategic Directions for 2025
Looking ahead to 2025, Pomina Flat Steel has outlined an ambitious strategic plan aimed at continued growth and innovation. A key component of this strategy is the company’s second-phase investment project, which will be executed according to the design approved by relevant authorities. The second phase is expected to enhance production capacity, improve operational efficiency, and introduce new products to meet the growing demand for coated steel in both domestic and international markets.
As part of its ongoing restructuring process, Pomina Flat Steel plans to integrate cutting-edge technologies and best practices across its operations, further solidifying its position as a leader in the coated steel sector. The company is committed to strengthening its research and development efforts, fostering a culture of innovation to bring high-quality, sustainable products to the market.
Commitment to Sustainable Development
Pomina Flat Steel’s strategy for the future places a significant emphasis on sustainability and innovation. With a strong focus on long-term, sustainable growth, the company aims to maintain stable growth rates and become one of the leading players in the coated steel industry. By adopting environmentally friendly practices and investing in modern technologies, Pomina plans to minimize its carbon footprint and contribute to the global shift towards greener industries.
The company also remains committed to enhancing product quality, ensuring that its offerings meet the highest standards. By improving the efficiency of its production processes and reducing environmental impacts, Pomina Flat Steel aims to meet the growing demand for high-quality, eco-friendly steel products.
Key Takeaways:
• Pomina Flat Steel has transitioned to a joint-stock company with a new shareholder group including key business figures.
• Mr. Pham Van Truong has been appointed as the legal representative responsible for managing production and business operations.
• In 2024, Pomina achieved significant milestones, including:
o Increased Charter Capital to 1,200 billion VND.
o Reduced bank debt and optimized operations for efficiency.
o Successfully promoted product exports to broaden market reach.
• 2025 strategic plans include the second-phase investment project to expand capacity and enhance production.
• The company is committed to sustainable development by incorporating innovation and environmentally friendly practices into its growth strategy.
