AN CUONG WOOD-WORKING JOINT STOCK COMPANY SIGNED AN AGREEMENT OF STRATEGIC ALLIANCE WITH SUMITOMO FORESTRY CORPORATION

On October 20th, 2017, An Cuong Wood-working Joint Stock Company signed an agreement of strategic alliance with Sumitomo Forestry Singapore, Ltd (a company 100% owned by Sumitomo Forestry Co., Ltd, Japan (its head office is located in Chiyoda-ku, Tokyo; Mr. Akira Ichikawa was President and Representative). This alliance would enhance the cooperation and aim at expanding the two companies’ business activities. The purpose of the strategic alliance is as follows:

-Developing a supply chain in Vietnamese market from procurement of materials to building houses, creating synthetic power in each link of the chain and promoting the growth of each enterprise.

-Importing and distributing construction materials of high quality from Japan through An Cuong Wood-working Joint Stock Company’s exising distribution channels. 

-Based on the distribution system of Sumitomo Forestry Corporation, An Cuong Wood-working Joint Stock Company’s business will be promoted to foreign markets including Japan market. 

Sumitomo Forestry established Vina Eco Board Co., Ltd. specializing in producing and distributing Particle Board (PB) in 2012. After that, in 2015, the Corporation coordinated with Phu My Hung Company, a leading real estate developer in Vietnam to launch a real estate project in District 7, HCMC. 

This strategic alliance is established on the background of An Cuong’s modern interior design function aiming at setting up a united ecosystem from the beginning (materials) to the end of the value chain in house building in Vietnam. The alliance will promote technological development and introduction of new products satisfying needs in Vietnam; thereby contribute to the progress of Vietnam’s housing environment and culture.