VINA PLASTICIZERS CHEMICAL COMPANY LIMITED

VINA PLASTICIZERS CHEMICAL COMPANY LIMITED is a long-standing industrial player in Vietnam’s petrochemical sector. It specializes in the production and distribution of plasticizers such as DOP and DINP, key inputs for the PVC industry. Founded in 1995 and headquartered in Go Dau Industrial Park, Dong Nai Province, the company operates under a limited liability structure and benefits from a powerful international-local ownership blend, including AEKYUNG Chemical (South Korea), Southern Fertilizer JSC, and PetroVietnam Oil Corporation.

Led by General Director Jeon G. C., with financial oversight by Chief Accountant Phan T. N., the company maintains a mid-sized workforce of approximately 100 employees and an operational presence in Dong Nai, Ho Chi Minh City, and Hanoi. This geographic footprint allows the firm to serve both industrial hubs and trading partners efficiently, reinforcing its position in the upstream supply chain of Vietnam’s plastic and chemical manufacturing ecosystem.

In 2024, VINA PLASTICIZERS reported sales of over USD 132 million, a 7 percent increase year-over-year, indicating a rebound in market demand or pricing after two years of sales contraction. However, beneath this top-line growth lies a more sobering reality: the company remained unprofitable for the third consecutive year, with losses narrowing only slightly to USD 1.91 million. The prior year’s loss was even steeper, at over USD 2.73 million, suggesting that while operations may be stabilizing, profitability remains elusive.

Another concern is the erosion of equity. Owner’s equity has declined for three consecutive years, falling to USD 9.5 million in 2024, compared to USD 13.3 million in 2022. Asset value also shrank significantly during the same period, dropping nearly 25 percent in two years. Moreover, the company ended 2024 with negative working capital, a potential signal of liquidity strain or aggressive short-term financing.

Despite its strong brand recognition, strategic location, and multinational backing, VINA PLASTICIZERS CHEMICAL COMPANY LIMITED appears to be operating under financial pressure. The company’s future will depend on its ability to restructure costs, improve production margins, and align its pricing strategy with raw material fluctuations and global demand trends.

In an industry where scale and integration matter, VINA PLASTICIZERS is well-positioned—but at risk. Stakeholders, suppliers, and potential partners should monitor its profitability trajectory closely, as the coming years may determine whether this once-stable enterprise can turn the page or continue to erode value.