Goldsun Joint Stock Company

Goldsun is a Hanoi-based company with two main business lines, (1) carton packaging and (2) kitchenware. The production for these two business lines is located in two separate nearby sites in Tu Liem District, Hanoi. Goldsun Joint Stock Company is the result of a merger between Nhat Quang Ltd. (established in 1996) which owned the production facilities of both business lines, and Quang Vinh Ltd. (established in 1998) which owned the kitchenware sales and distribution network.

The Mekong Enterprise Fund made an investment in Goldsun in December 2005.

Carton packaging

Goldsun produces high-quality cardboard cartons, used for the packaging of consumer products such as consumer electronics, household and food products. What differentiates Goldsun from most other carton packaging producers in North Vietnam is that in addition to the several machines to make cartons, such as corrugating, laminating, cutting, shaping and flexography printing machinery, the company has two offset printing machines. This enables them to have the whole production process in-house, from raw paper to printed carton package, while most carton producers in the North have to outsource the offset printing if they want to produce high-quality cardboard cartons.

Kitchenware

Goldsun manufactures and distributes metal kitchenware including gas stoves for retail, stainless steel pans and other kitchen utensils. Goldsun maintains a network of distributors throughout Vietnam, with a main focus on the Northern provinces, which accounted for 80% of its kitchenware sales in 2004. The company maintains branch offices in Danang and Ho Chi Minh City from where it manages its distributors in the Central and Southern provinces. The company maintains various brands for different target groups, with their flagship brands being GOLDSUN for gas stoves, and KINEN for stainless steel pans.

History

Nhat Quang Ltd. was founded in 1996 as a carton packaging company with a factory in Tu Liem District, Hanoi.

Quang Vinh was founded in 1998 as a trading company focused on distributing gas stoves, pans and other kitchenware.

In 2001, Nhat Quang started the manufacturing of gas stoves on a small scale in its existing packaging factory. The sales and distribution of these products was done by Quang Vinh. The manufacturing of kitchenware proved feasible, and Nhat Quang constructed a new kitchenware factory in Minh Khai Industrial Zone, Tu Liem District, Hanoi, which was taken into operation in 2004.

Meanwhile, Quang Vinh had expanded its nation-wide distribution network, with a Ho Chi Minh City branch office established in 2002 and a branch office in Danang in 2004. It also successfully established its flagship brand names GOLDSUN and KINEN, particularly in the Northern provinces of Vietnam. In 2004, the GOLDSUN brand received the prestigious national award “Sao Vang Dat Viet” for top Vietnamese brands.

In order to utilize the synergies between Nhat Quang and Quang Vinh in the kitchenware business, the companies merged in 2005 to become Goldsun Joint Stock Company. Kitchenware now accounts for around 65% of the consolidated revenues.

More information on Goldsun is available on their website www.goldsun-group.com.vn.