PV Building: Finish early

PV Building: Reaching the finish line earlyAccording to estimates, in 2016, the total revenue of the Petroleum Housing and Trading Joint Stock Company (PV Building) will reach 585.91 billion VND, exceeding the annual plan by 17%. Reaching the production and business targets early in 2016 is something that the company’s board of directors is completely confident about.

Focus on market development

In 2016, PV Building set a target of total revenue from production and business activities of VND 500.07 billion, but in the first 9 months of the year, the company’s total revenue reached VND 475.91 billion, reaching 95% of the yearly plan and exceeding 27% compared to the 9-month plan.

To achieve this result, in the first 9 months of the year, with many drastic solutions on the market such as maintaining and holding on to traditional markets, PV Building also expanded with a number of new partners for packaging products, especially establishing a distribution channel for PP and LPG plastic beads.

According to Mr. Tran Doan Thinh – Director of PV Building, ensuring a stable and long-term supply of PP plastic beads bags for Dung Quat Oil Refinery is also ensuring the product line that brings in the main source of revenue for the company from packaging production and business. Meanwhile, the agricultural packaging line also had positive results. In the first 9 months of the year, the company’s output reached 3.36 million bags, exceeding the plan by 24%. Traditional customers using the company’s products such as Thai Viet, Fococev, Thua Thien Hue cassava starch… were maintained, in addition, market work was always focused on, so the consumption output increased.

Along with promoting production and developing the packaging market, the PP plastic resin trading sector was also given special attention by the company. To maintain market share, from the beginning of the year, PV Building implemented product distribution contracts with reputable consumption sources, customer care was closely followed, ensuring progress as well as capital safety efficiency. Thanks to that, the company’s plastic resin consumption in the first 9 months of the year reached 11,678 tons, exceeding the target by 30% compared to the plan.

In particular, in the first 9 months of 2016, the company sold 4,500 tons of liquefied gas products, the consumption output exceeded the plan by 20%, contributing to increasing profits for this sector.

Contributing to the success of early completion of production and business targets is also the logistics service. Although this is a sector that brings low profits and revenue, it has still achieved and exceeded the targets in the first 9 months of the year. Accordingly, the management of housing, transportation services for leaders and employees of Dung Quat Oil Refinery are increasingly professional with vehicles and drivers that are invested and trained properly. Meanwhile, the service of taking care of trees, cleaning and treating insects to bring a green, clean, beautiful and safe landscape and environment to the factory and the buildings managed by PV Building is also effectively implemented.

Accelerating corporate restructuring

Implementing the roadmap for divestment of BSR’s capital, PV Building has coordinated with a consulting unit to organize a public auction of shares on the stock exchange and sold 2.325 million shares with a total value of VND 28.365 billion. After the offering, BSR’s capital contribution at PV Building has now decreased to 83.26%.

Notably, in the third quarter, PV Building also completed the appointment of a number of management positions in production departments and a number of functional departments of the company. In addition, the company also pays great attention to professional training for employees.

“We are constantly improving human resource management such as: Through short-term and long-term training programs to improve the professional qualifications of employees; supplementing personnel with management and operational capacity. At the same time, maintain and closely monitor the implementation of the Quality Management System according to ISO 9001:2008 standards” – Mr. Tran Doan Thinh said.

To improve product quality, business management, and save production and business costs, PV Building always ensures that machinery is in a stable and continuous production state. Accordingly, the company builds a research plan to improve and maximize machine efficiency as well as save materials and reduce production waste. Raw material costs account for a high proportion of packaging product costs, looking for alternative sources of raw materials and new mixing formulas to reduce production costs and improve business efficiency.

In the last 2 months of the year, PV Building continued to improve the organization of human resources, control, and inspect product quality strictly at each stage and assign responsibility for product quality to each production department as well as strengthen market research, find output, and expand the PP plastic granule distribution system.

Source: baocongthuong.com.vn