Signing Ceremony between Nhat Huy Group & Opec Plastic JSC

On July 5th, 2019, in Hanoi, Nhat Huy Group and Opec Plastic Joint Stock Company held the signing ceremony of the Strategic Partner Agreement in the fields of trading filler, finance, logistics, product development, markets, and investments. Chairman of Nhat Huy Group - Mr. Nguyen Chan Chinh and Mr. Nguyen Minh Tu - General Director of Opec Plastic Joint Stock Company signed this agreement.

In agreement, the two parties pledged to provide each other products and services with preferential policies and prices set by each party to support production investment, promotion, investment, distribution, import, and export of products in the best way. Two parties agree to cooperate and exploit the available human resources such as services, facilities, infrastructure, domestic and international relations of the parties.

Speaking at the ceremony, Mr. Nguyen Chan Chinh, Director of Nhat Huy Group said: '' Nhat Huy will prioritize Opec as the leading strategic supplier providing PP, PE inputs ... (especially PVC for Nhat Huy's factories) under long-term formula contracts, spot contracts. Moreover, Nhat Huy will also prioritize the use of, but not limited to, logistics services by OPL Shipping - Opec's member company.

Mr. Nguyen Minh Tu - Director of Opec JSC shared: '' Opec is committed to consulting and introducing Opec's strategic banks to provide Nhat Huy with optimal financial solutions to help Nhat Huy expand its business, cost reduction and superior competitiveness. OPL Shipping will commit to providing the maximum logistics service for Nhat Huy with competitive prices compared to the market, good service quality, professionalism, and flexible payment methods, ensuring long-term benefits for both sides''.

Two sides will share market information about Nhat Huy products that need to be sold. On that basis, Opec will help Nhat Huy to open market share in countries where Opec has representative offices, helping Nhat Huy to have more partners and facilities to expand the factory scale fastest. Two sides will give a good priority to invite the other parties to participate in investment projects to expand production and implement new projects that bring high economic efficiency and sustainability to the parties.

Through the signing of the Cooperation Agreement, the two sides agreed to cooperate in ensuring compliance with the law, long-term and stable cooperation, competitive costs, transparent information and long-term benefits of both sides.

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