Opec Plastics: Strong and Sustainable Development

Opec Plastics acquired Asia Plastics Factory in 2009. In 2011, Opec Plastics joined the club of VND1,000 billion revenue.

 

CEO Dinh Duc Thang said the stability and growth of the company amidst economic difficulty is attributed to three key factors: Strategic vision, professional personnel development and good financial governance. The company did not use short-term loans for long-term investments while focusing on improving the quality of core products like PP, HDPE, PP and PE plastics. The company’s leadership also combined advanced governance methods in the world with typical characteristics of Vietnam to run the company. Hence, Opec Plastics rapidly expanded its plants, branches and distribution centres across the country and became a leading plastic company in Vietnam and a strategic partner of world-leading corporations.

 

To enhance competitiveness in domestic market and international markets, Opec Plastics always focuses on intensive investment, equipment and technological renovation, and uses modern materials. Currently, all machinery and production and technologies of the company are imported from industrially developed countries like Germany, Italy and Japan.

 

The company successfully signed a contract worth VND1,000 billion to distribute three packages of Polypropylene (PP) T3034 for Binh Son Refining & Petrochemical Co. Ltd. (BSR). In 2014, OPEC Plastics continues to be the largest resin distributor for BSR as it takes over 80 per cent of resin volume of BSR worth some VND3,000 billion. This event marks a new step in long-lasting comprehensive strategic partnerships between Opec Plastics and BSR. The success in buying PP T3034 from BSR is one of the company’s strategic advances to enhance its brand value and affirm Opec Plastics’ position and prestige to its domestic and international customers and partners. Apart from the main office in Hanoi and two branches in the central region and the southern region, Opec Plastics has opened representative offices in Indonesia and Singapore and planned to expand its representative presence to other countries. With highly levelled executives graduated from Europe and US schools and young enthusiastic employees plus a strong financial foundation, OPEC Plastics is ready to expand the cooperation with domestic and foreign partners.

Opec Plastics products are exported to Europe and Japan. Speaking of experience in doing business with Japan, CEO Thang said Japan is a potential and trustable market. Working and cooperation with Japanese partners is a good luck and honour of Opec Plastics. When working with Japanese partners, all values and data must always be made clear, transparent and accurate. Reputation, trust and consistency in decision-making are very important. Discipline, punctuality and behaviour are very important too. After you prove your credibility, trustworthiness and value, they will be very friendly and open.

 

Opec Plastics always integrates corporate interests with social responsibility. Not until being a big business and a national brand Opec Plastics starts taking part in social activities. Therefore, the company is not only known to customers as a prestigious plastic company but also as an active participant in social activities like supporting the poor and social security programmes.

 

Proud to have a good vision, right strategy, sustainable development and quick adaptability to any situation, Opec Plastics is striving to become the biggest resin distributor in Southeast Asia in 2016. The company will consider expanding business operations into other fields like manufacturing parts and components for other companies.