VINH HUNG IP FACTORY SETS NEW PRODUCTION RECORDS IN THE FIRST HALF OF 2024

Surge in bridge bearing production  

Pot bearings, a flagship product of Vinh Hung IP Factory, reached unprecedented production level in the first half of 2024. Output during this period marked the highest record for the same timeframe since 2017, surpassing the total production of 2023 by an impressive 22.64%. This significant growth underscores the factory's enhanced manufacturing capacity and ability to meet market demand.

The steady production growth from 2017 to 2023 reflects the positive outcome of the factory's strategic investments in advanced technology, workforce development, and continual improvement in manufacturing and quality control process.

From 2017 to June 2024, Vinh Hung supplied the market with over 28,000 units of bridge bearings, reinforcing its position as a leader in the industry.

Rapid Recovery and Growth in Expansion Joint Production

In the first six months of 2024, the output of expansion joints has already reached approximately 71% of the total production volume of 2023. This robust growth rate not only surpass previous years’ averages but also signals considerable potential for further expansion in the second half of the year.

As of June 30, 2024, Vinh Hung has supplied more than 35,000 meters of expansion joints for transportation infrastructure projects.

Overview

Based on the data from the North-South Expressway Project Phase 1 (2017-2020) and Phase 2 (2021-2025), Vinh Hung's bridge bearings and expansion joints hold the largest market share, compared to the total output of the project.

The strong production growth in the first half of 2024 is attributed to increasing demand from many component projects of Phase 2 entering the installation stage.

The remarkable production growth demonstrates Vinh Hung IP Factory's market potential, high growth trajectory, and exceptional manufacturing capacity. These achievements are a direct result of the factory's ongoing commitment to technology advancements, enhancing human resources qualities and skills, and manufacturing and quality control process optimization.

Despite many challenges such as raw material availability and fierce market competition, these accomplishments reflect Vinh Hung IP Factory’s ability and readiness to thrive against industry limitations, expand its market reach, and affirm its leading position in the transportation mechanical field.