Nov 22 2006
Prime Minister of Australia, The Hon. John Howard, MP, today officially opened BlueScope Steel Vietnam's new A$136 million (US$101 million) flat steel metallic coating and painting operation at the Phu My 1 Industrial Zone, Ba Ria - Vung Tau province, near Ho Chi Minh City.
Mr Howard was joined by Vietnamese Minister of Industry, Mr Hoang Trung Hai, at a large customer and employee ceremony hosted by BlueScope Steel Chairman, Mr Graham Kraehe AO, and Managing Director and CEO, Mr Kirby Adams. Senior officials from the Australian Embassy, representatives from Austrade, industry representatives and senior BlueScope Steel company executives also attended the official opening event this morning.
"I am pleased to officially open BlueScope Steel's Phu My plant. It is indicative of the increasing economic linkages and complementarity between Australia and Vietnam, which has seen our two-way trade increase significantly to A$5 billion in 2005-2006. I commend BlueScope Steel for its vision in establishing its plant at Phu My, which will augment Australia's economic relations with Vietnam," Prime Minister Howard said.
The state-of-the-art manufacturing facility represents Australia's largest manufacturing investment in Vietnam and is part of BlueScope Steel's A$2 billion Asia and North America investment program. The program comprises 20 projects in eight countries and is part of the Company's strategy to expand into high value-added branded steel building solutions.
At full capacity, the operation, wholly owned by Australia's BlueScope Steel Limited, will be capable of supplying Vietnamese customers with 125,000 tonnes per annum of metallic coated and 50,000 tonnes per annum of pre-painted flat steel products.
BlueScope Steel Managing Director and CEO, Mr Kirby Adams, said, "BlueScope Steel's superb new metallic coating and painting facility will enable us to produce high quality, tailored steel building products to respond even more quickly to our Vietnamese customers' needs and market opportunities.
"With an in-country facility such as this, BlueScope Steel Vietnam will be able to forge closer collaborative partnerships and provide better service for all our customers here.
Mr Adams added, "With Vietnam's recent accession to the WTO, BlueScope Steel is optimistic about its future in this young and dynamic country. Vietnam's commitment to opening its markets to international trade is a positive signal that the building and construction industry will further grow as a result of more trade activities and economic development through foreign direct investment and increased international trade."
BlueScope Steel Vietnam is home to well-known brands of building solutions such as Clean COLORBOND®, ZINCALUME®, ZACS® and P-ZACS® steels. BlueScope Steel has been operating in Vietnam since 1994 following the establishment of the BlueScope Buildings (formerly BlueScope Lysaght) steel rollforming operation in Bien Hoa, near Ho Chi Minh City. In 1996, another rollforming facility was established in Ha Tay, near Hanoi.