The sharp increase in oil prices pulled plastic resins fluctuations, which had a great impact on plastics enterprises. This poses a difficult problem for the Vietnamese plastic industry to soon be proactive in raw materials to get rid of dependence. Thuan Duc Joint Stock Company is one of the few Vietnamese plastic enterprises that soon found an answer thanks to PP plastic recycling technology.
In the context that many countries have started to vaccinate against the Covid-19 epidemic, the world oil prices and plastic resin prices have shown signs of sharp increase since the end of 2020, causing the operation of many plastic enterprises to affect. .
In the first quarter, the price of North Sea Brent oil increased to approximately 60 USD / barrel. Plastic resin price also increased from 700 USD / ton to nearly 1,300 USD / ton, corresponding to an increase of nearly 50%.
Raw material prices in the US stood at $ 1,200 / tonne for HDPE and $ 1,230 – $ 1,240 / ton for LLDPE film, both on a CIF Southeast Asia basis were recorded in the first quarter.
Currently, Vietnam’s plastic industry has more than 2,000 businesses operating and most of them have to import plastic materials from outside.
By 2020, Vietnamese plastic enterprises need about 5 million tons of raw materials to serve their production activities. With the increasing demand for plastic resins, coupled with the rapidly increasing prices, the operations of many plastic enterprises may be negatively affected in 2021.
Talking about this issue, the leader of Thuan Duc Joint Stock Company (TDP) said that the enterprise has completely owned the input material source thanks to PP plastic recycling technology.
Thuan Duc’s PP plastic recycling technology has outstanding advantages through the process of hash, heat, cooling to recycle used PP bags (cement bags, jumbo bags …) into PP plastic resins. , do not use whitening chemicals, do not detergents, use circulating water does not emit into the environment. Applying recycled plastic technology to contribute to save energy, natural resources and protect the environment.
Owning PP plastic recycling technology has helped Thuan Duc gain initiative in input material sources and also provide some other domestic enterprises.
This is a huge advantage that helps the Company to stabilize production and increase competitiveness in the market. From there, increase revenue, profit and re-invest in research and development of high-tech plastic products.
By the end of 2020, Thuan Duc has officially launched a line of high quality PP non-woven fabrics, not only for packaging, supermarket bags but also as raw materials for the manufacturing of medical equipment such as clothing. and antibacterial masks.
Mr. Jurrian van Helden, a trade representative of a European partner of Thuan Duc highly appreciated this technology: “They collect waste packaging and put it in recycling to make raw materials for new packaging. This work contributes to environmental protection. I am assured of the quality of Thuan Duc goods, 100% inspection of the shipment before packaging, the product is beautiful, the quality meets the requirements of the consumer. Thuan Duc will always be my first choice for supermarket bag projects ”.
The year 2021 is forecasted to be a great opportunity for exporters like Thuan Duc when the economies reopen after the pandemic, especially when Covid-19 vaccine is widely produced.
Thuan Duc is expected to hold the General Meeting of Shareholders on April 22. Accordingly, the Board of Directors of the Company plans to submit to shareholders the consolidated business – production plan in 2021 with total revenue of VND 1,968 billion, after-tax profit of 88 billion VND, expected dividend of 12%. The Board of Directors also submitted a plan to pay a 12% share dividend for 2020.
With strong market demand, Thuan Duc also plans to invest in a project of a bag and bag factory for export in Thanh Hoa.
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The attached semi-annual financial statement and explanation of business results in 2022
Decision on sanctioning administrative violations of Tax Department of Hung Yen province
TDP announces the Resolution and minutes of the Extraordinary General Meeting of Shareholders in 2022 and attached documents
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Consolidated financial statements for the second quarter of 2022 and accompanying explanations
Separate financial statements for the second quarter of 2022 and accompanying explanation
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