Masan High-Tech Materials adapts to market challenges and evolves to meet future needs

May 11, 2024 | 12:30 am PT
Masan High-Tech Materials continues to drive sustainable business operations, focusing on cost optimization initiatives and improving financial efficiency, and targets net revenues VND15–15.8 trillion for FY2024.

This message was highlighted at the company’s 2024 annual general meeting held on April 23 in Thai Nguyen Province with the theme "Fit for Future."

Masan High-Tech Materials reported FY2023 revenues of VND14 trillion, the second-highest in its history.

EBITDA was VND1.55 trillion.

Monetization of the copper inventory stockpile recommenced in the domestic market with sales of more than VND1 trillion in FY2023, equivalent to 42,387 dry metric tons.

CEO of MHT presents the 2023 production and business results, and outlines the direction for 2024 at the Annual General Meeting of Shareholders. Photo courtesy of MHT

CEO of MHT presents the 2023 production and business results, and outlines the direction for 2024 at the annual general meeting of shareholders. Photo courtesy of MHT

The company also signed contracts with domestic partners for estimated copper sales of 45,000 dry metric tons in 2024.

MHT remains a significant contributor to the state budget, paying VND1,414 billion in taxes, the highest in Thai Nguyen Province.

In 2023 MHT maintained and continued to promote community engagement activities, including community development and economic recovery programs.

The company is committed to fulfilling its responsibilities to the community by implementing various development and economic recovery projects at a total cost of around VND6.8 billion.

These projects have directly benefited some 4,500 households, over 600 of them ethnic and 270 of them vulnerable.

To adapt to market fluctuations and ensure sustainable development, MHT has implemented a number of strategic programs and measures, particularly the "Fit for Future" program in 2023.

In 2023 Masan High-Tech Materials continued to improve ots production processes, reduce CO2 emissions, and optimize energy and materials use.

The company is also committed to developing high-quality products, ensuring competitiveness, efficiency and environmental friendliness.

Waste streams have been segregated and converted into value-added products, resulting in a recycling rate of over 30% of the waste generated.

Following these achievements, Masan High-Tech Materials has further strengthened its research and process improvements, with almost 100 patents worldwide and 50 patents currently in the application phase.

In 2023 the company launched two advanced tungsten powders under global patented trademarks "starck2charge" and "starck2print," expanding MHT’s advanced product portfolio and meeting the evolving demand of advanced technology companies and global industries.

The processing plant at the polymetallic Nui Phao polymetallic mine. Photo courtesy of MHT

The processing plant at the Nui Phao polymetallic mine. Photo courtesy of MHT

Masan High-Tech Materials was also recognized as a pioneer in implementing carbon neutrality initiatives and promoting the circular economy.

The company conducted a greenhouse gas inventory and calculated emissions, implementing an energy-saving program across the company with nine projects exceeding targets.

These included an estimated 14,409 GJ reduction in electricity consumption.

Over 2,000 trees were planted in waste dump areas, with 63.9 hectares of land being rehabilitated through environmental restoration programs.

The resource management system is integrated with artificial intelligence (AI), enabling faster responses to changes in operating conditions, process optimization and energy savings.

"Masan High-Tech Materials particularly focuses on innovation and sustainable practices in response to market changes," CEO Craig Richard Bradshaw said.

"This strategy is clearly reflected in our ‘Fit for Future’ program implemented across all subsidiaries, yielding positive outcomes in the present and in future development stages."

In 2023 Masan High-Tech Materials remained steadfast in its management policies, sustainable practices and resource optimization to overcome difficulties and challenges.

These efforts have been recognized with prestigious awards and certification such as "Great Place to Work," Vietnamese Enterprise with the highest contribution to the budget of Thai Nguyen Province, "Top 10 Innovative Enterprises," "Top 100 Sustainable Enterprises in Vietnam"...

Workers from Thai Nguyen province account for over 60% of the labor force at Masan High-Tech Materials. Photo courtesy of MHT

Workers from Thai Nguyen Province account for over 60% of the labor force at Masan High-Tech Materials. Photo courtesy of MHT

These recognitions truly highlight Masan High-Tech Materials' proven contributions and tireless efforts in realizing its vision and mission while affirming its position as a leader in sustainable mining, manufacturing and supply of advanced materials in the domestic and international markets.

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