|Masan High-Tech Materials reports year full of advances(source: masanresources.com)|
Danny Le, chairman of the Board of Directors of Masan High-Tech Materials shared the strategic vision for 2021-2025: “In 2021, we shall continue to work with customers to relentlessly develop the platform for tungsten high-tech materials. In parallel to seeking the opportunities to further develop the tungsten recycling platform, Masan High-Tech Materials shall focus on expanding the recycling of other materials such as cobalt, tantalum, and molybdenum. Recently, H.C. Starck Tungsten Powders – a subsidiary of Masan High-Tech Materials – has received a funding of €800,000 from the German government to develop a new cobalt recycling technology.”
Masan High-Tech Materials aims to become a partner of choice to high-tech industries where its products are a key component in evolving and shaping the future of the world. Through the application of its materials, the company will create unparalleled solutions to drive innovation and productivity which will deliver superior outcomes for all partners and stakeholders.
In early 2021, Masan High-Tech Materials has seen positive signs from customers with steadily increasing volumes and certainly higher metal prices. With ongoing investment in infrastructure projects and renewal projects by respective world governments, increasing spending on renewables, electric vehicles, fuel cell technologies, return of automotive manufacturing demand, and general engineering, the demand outlook for Masan High-Tech Materials’ suite of products looks strong.
The company has set a net revenue growth target of over 50 per cent in 2021, attributing to the H.C. Starck integration for the whole year, higher sales revenue and selling prices on the market. The better price and bigger revenue shall enable Masan High-Tech Materials to achieve EBITDA growth more than 100 per cent against the same period, strongly backed by strict cost control in lean production activities. The attributable after-tax net profit in 2021 at Masan High-Tech Materials is expected to be at appropriately VND200-400 billion ($8.7-17.4 million).
By Khanh Dang