Vietanamese Hoa Phat Group on December 15, 2020 announced the establishment of its Iron and Steel Corporation and Steel Pipe Color Coated Steel Sheet Corporation, under the groups restructure strategy. In the field of color coated steel pipes and corrugated iron, the board states that Hoa Phat Steel Pipe and Color coated Steel Joint Stock Company has a charter capital of VND 3.5 trillion. The company will have activities of investment, production and trading of steel pipes, colored galvanized steel sheet and supporting activities. Its subsidiaries include Hoa Phat Steel Pipe Company Limited and Hoa Phat Steel Sheet Company Limited.
Earlier, on December 10, 2020, Hoa Phat Group announced the decision to restructure the organizational model with establishment of corporations in charge of the group’s each field of operation. The group has completed the establishment of four corporations including: Iron and Steel Corporation, Steel Pipe Corporation and Color-coated Steel Sheet, Agricultural Development Corporation, Development Corporation and Real Estate Development Corporation.