SMC and Viet Duc Steel Pipe Joint Stock Company are two steel enterprises planning to go backwards this year when a series of other enterprises set growth targets such as Hoa Phat Group (Code: HPG), Hoa Sen Group (Code: HSG), Viet Italian Steel (Code: VIS).SCM business plan for 2021 (Source: SMC).
Regarding this year’s dividend plan, the company plans to divide it at the rate of at least 10% in cash or in stock.
Besides, the company will submit to shareholders the plan to pay dividends in 2020 at the rate of 10% in cash, previously the company has paid 5%.
The company management said that 2021 will be a challenging year with plans to implement new projects including.
+ Installing a new bleaching line and a waste acid treatment system at SMC Mechanical plant.
+ Install two new pipe roll lines at Sendo steel pipe factory.
+ Build a new SMC Phu My Steel Mill with the capacity of tightly cutting steel sheets of all kinds up to 200,000 tons / year.
+ Build a new SMC Phu My Precision Mechanical Factory with a break-in capacity to shape products up from 8 – 10 million products / year.
+ Joint venture with Samsung C&T company in establishing steel mill in Phu My 2 Industrial Park, Ba Ria – Vung Tau.
With the plan for the period of 2021 – 2025, the company will focus on the core business of iron and steel with the consumption of steel of all kinds reaching 1.8 million tons by 2025, striving for the maximum export rate. 15% minimum total consumption.
Source: vietnambiz.vn – Translated by fintel.vn