Vietnamese Firm to Ship US$17Mln of Granite Tiles to S. Korea
Prime Group, one of Vietnam’s leading tile producers, on April 6 signed a contract with Korea’s International Ltd. to export roughly US$17 million worth of granite tiles to the northeast Asian country over three years.
The signing of the contract, the biggest-ever by Prime Group, took place during an international trade fair, Expo 2006, that was taking place in Hanoi.
The export contract is seen as a lifeline for local company given the slackened demand for construction materials, particularly ceramic and granite tiles, sparked by the frozen real estate market.
The country now has 53 granite tile factories with a combined output capacity of 170 million square meters a year but last year’s local demand was a mere 120sq.m. This year’s demand is forecast at 130 million sq.m.
VietNamNet, SGT
Vietnamese
