Masan High-tech Materials honored as "Top 50 Vietnam Best Growth"

At the announcement ceremony of the Top 500 Largest Enterprises in Vietnam in 2023 (VNR 500), organized by Vietnam Report in collaboration with VietnamNet on January 18, 2024, Masan High-Tech Materials was recognized “Top 50 Excellent Businesses – Vietnam 2023”.

Masan High-Tech Materials was recognized “Top 50 Excellent Businesses – Vietnam 2023”.

Sustained effective business operation

2023 witnessed economic downturn and financial difficulties among businesses; however, Masan High-Tech Materials excellently maintained business stability and efficiency during the 2022-2023 period while actively engaged in community development and social welfare activities. In the first nine months of 2023, the company recorded nearly VND 11 trillion in revenue and an EBITDA of VND 1,694 trillion, contributing nearly VND 1.1 trillion to the state budget.

In 2023, Masan High-Tech Materials intensified its investment in research and development for continuous process improvement and product innovations. The company boasted nearly 100 new patents worldwide, with 50 other patents in the application stage. In March 2023, Masan High-Tech Materials launched two new tungsten powder brands: 'starck2charge' intended for use in the manufacturing of safe and fast-charging Li-ion batteries, and 'starck2print' catering for the 3D printing industry, especially useful in the healthcare industry. These globally trademarked products represent advanced solutions critical to global innovations, meeting the needs of key industries worldwide.

Additionally, within the past year, Masan High-Tech Materials through its subsidiary H.C. Starck Tungsten Powders acquired Chemitas, a provider of warehouse, energy management, and waste management services in Germany. This acquisition helps Masan High-Tech Materials control the entire tungsten supply chain, enhance logistics capacity, aligning with the company's strategy to provide comprehensive solutions for global customers.

Sustainability is a journey 

At Masan High-Tech Materials, sustainability is not a destination, but a journey. The company’s strategic goal is ‘growth through sustainability’, with a focus on cost optimization, environment-friendly processes, product innovations, and customized solutions for customers. As such, at the core of the company business is the implementation of a circular economy business model, promoting a closed-loop manufacturing process, from mining, processing to waste and scrap collection, then recycling into new material sources. This approach is to meet the increasing demands for advanced materials and align with the global sustainability trends.

Masan High-Tech Materials is also actively looking to establish a world-class tungsten recycling facility in Thai Nguyen. This strategic project will make Vietnam become the largest center for tungsten recycling in Asia and less dependent on primary raw materials from mining activities.

"In 2023, we increased our R&D efforts, fostered innovation, and created new product brands and breakthrough solutions, customized for our global customers. Recycling and sustainability will continue to be at the heart of our agenda, in order to achieve better financial performance in 2024”, shared Mr. Craig Bradshaw, CEO of Masan High-Tech Materials.

From a visionary strategy to great accomplishments in 2023 and huge potential in the coming years, Masan High-Tech Materials has been recognized as an exemplary Vietnamese business going global, as well as a ‘Sustainable Business’ in Vietnam for years.