Nguyen Hoang, a company with 15 years of experience in exporting interior & outdoor furniture, has entered into a comprehensive restructuring plan in 2015. With two-digit sales growth for the fiscal year, Nguyen Hoang, under a new management board since being acquired by Bamboo Capital, has been steadily recovering.
Established in 2001, Nguyen Hoang is a manufacturer and exporter of interior & outdoor furniture. The company has a 55,000 square meter factory with over 400 employees located in Nhon Hoa industrial zone, An Nhon town, Binh Dinh province. Nguyen Hoang’s specialty is outdoor furniture with various models mostly exported to USA, EU, Australia, etc.
BCG had analysed and considered Nguyen Hoang’s potential to become a top furniture exporter in the upcoming scenario of Vietnam joining TPP as an strategic advantage, before officially acquiring 90% of the company’s shares in April, 2015. After closing the deal, BCG quickly assigned key personnel to make comprehensive restructuring which focused on enhancing the company’s existing strengths. By the last 6 months of 2015, Nguyen Hoang’s business has been thriving, the factory’s productivity improved, production costs reduced and orders surged.
Nguyen Hoang now owns 50% of the largest Stone Mine in Quy Nhon, according to certificate No 45 granted by The People’s Committee of Binh Dinh Provence on 01 of June 2011. Nguyen Hoang is allowed to quarry for 23 years and 48.000m3 annually. The company is investing in crushing machines and supplies stones to all main local traffic projects. Nguyen Hoang also has an advantage by owning 18,000 square meters of land in Ghenh Rang – an area with the most beautiful and longest beach in Quy Nhon. Recognizing the economic potential in tourism, the company has immediately developed a 4 star Casa Marina resort, targeting customers of sea tourism in the region.
A wooden chair order ready to be exported to EU
In 2015, Nguyen Hoang In 2015, Nguyen Hoang became member of the Business Social Compliance Initiative (BSCI). BSCI Code of Conduct is built on the most important international conventions to protect the rights of workers, especially those extracted from the Convention of the International Labour Organization (ILO), and comes along with recommendations. Meeting the requirements of a reputable system and constantly improving the quality of working conditions throughout the supply chain, are commitments of Nguyen Hoang to not only improve working environment, but also reduce risks related to occupational safety, fair treatment to labours, in order to satisfy the needs of employees, customers and legal requirements.
In order for products to approach customers better, in 2016-2020, Nguyen Hoang will strongly focus in several target export markets besides maintaining traditional markets as well as direct consumer markets. The target markets, namely Germany, USA, Japan, and Singapore, are those with stable economic development, continuous growth in purchasing power and demands, and a complete legal framework for international trade.
Through efforts in the restructuring for the past 6 months, Nguyen Hoang has initially reached a remarkable growth in 2015 with 194.4 billion dong of revenues, an increase of 76% as compared to the same period last year. Pre-tax profit in 2015 hit 12.4 billion dong, rising by 86 times as much as the same period in 2014. In 2016, Nguyen Hoang will continue to upgrade production machines and equipment in order to have sufficient capacity for large orders. According to the plan for 2016, expected revenues would be 136 billion dong and pre-tax profit would be 15.1 billion dong./.
*For further information, please refer to Nguyen Hoang’s website: http://nhfurniture.vn/
Nguyen Hoang Development Joint Stock Company
An Nhon Industrial Park, Nhon Hoa, Binh Dinh
Tel: 84.56 3838769- Fax: 84.56 3838729