Horuco Expanding Market

Horuco was established late in 2003 from the separation of Hoa Binh Rubber Plantation and Hoa Binh Latex Processing Factory owned by Ba Ria Rubber Company. The process of privatisation offered good opportunities for Horuco to capitalise on all resources for development investment. In the past years, under the support and guidance of the Party Committee, People’s Committee of Ba Ria - Vung Tau province, and Vietnam Rubber Group (VRG) and with the unity of its employees, Horuco continuously makes impressive breakthroughs. Apart from increasing annual revenues, the company always ensures capital sources for development and executes all tax obligations to the State. In 2010, HORUCO produced 3,872 tonnes, or 90.91 percent of the company’s full-year plan, purchased 3,000 tonnes of latex, sold 6,452 tonnes at an average prices of more than VND63 million a tonne. The company attained revenues of VND441 billion, higher than the full-year plan, profit after tax of VND98.14 billion, paid more than VND15.64 billion to the State Budget, and paid VND6 million to a worker a month. Its dividend payout ratio is 25 percent for 2011, 10 percent higher than in 2009. Particularly, in the first 10 months of 2011, the company sold 5,496 tonnes of latex worth VND546 billion. Its 2011 revenues were estimated at VND717 billion, and profit after tax will reach VND141.5 billion. With the business philosophy "Product quality is always the first concern," Horuco strictly applies the ISO 9001:2000 quality management system to production operations. Besides, Horuco always fulfils all contracts with the highest satisfaction and trust of customers.

 

In addition to major business lines of growing, purchasing, and processing latex, Horuco has stepped into many different industries like coffee cultivation, agricultural product trading, rubber equipment trading, and agricultural chemicals. To date, the company’s products have been sold all over the country from Asia and Europe to the Americas.

 

With its sustainability-driven development and high corporate social responsibility, the company was awarded the “Trusted Exporter” title in 2009 and 2010 by the Ministry of Industry and Trade; Certificates of Appreciation in 2010 by the People’s Committee of Ba Ria - Vung Tau province; Lighthouse Award in 2020 and Sustainable Trademark Award in 2010 by Ba Ria - Vung Tau People’s Committee.

 

Mr Bui Phuoc Tien, Deputy General Director of Horuco, said: In the coming time, to improve the product quality and corporate governance, Horuco will focus on boosting productivity and quality in accordance with ISO 9001:2008 standards and promoting sustainable development and environmental protection in accordance with ISO14000 standards. While maintaining market shares in traditional markets, Horuco will expand its markets, enhance competitiveness, and increase exports. The company will also focus on developing high quality human resources to meet production and business requirements, seize all opportunities to expand operating scale and acreage in potential localities, and carry out projects in Laos and Cambodia.