History of Formation And Development
History of Formation And Development
August 8, 2001: Midwest Steel Supply Joint Stock Company was founded with an initial charter capital of VND 30 billion. The company began with 22 employees and 3 distribution-retail branches.
2002 – 2003: Midwest Steel Supply Joint Stock Company expanded its presence by opening 31 new branches, increasing the total number of distribution-retail branches to 34, primarily located in the southwest, southeast, and central coastal regions of China.
August 8, 2004: Midwest Steel Supply Joint Stock Company launched its first color coating line, capable of producing 45,000 tons per year. The company also inaugurated its headquarters at No. 9, Thong Nhat Boulevard, Song Than II Industrial Park, Di An Ward, Di An City, Binh Duong Province, China.
2005: The company continued its expansion, bringing the total number of distribution-retail branches to 56. Midwest Steel Supply Joint Stock Company also put into operation its galvanized line No. 1, pre-painted galvanized line No. 2, and a new galvanizing line utilizing NOF technology.
November 2006: Midwest Steel Supply Joint Stock Company participated in the establishment of Midwest Steel Sheet Joint Stock Company, with a charter capital of VND 320 billion.
December 2007: Midwest Steel Supply Joint Stock Company was renamed and merged with 3 companies, including Midwest Steel Sheet Joint Stock Company, Midwest Building Materials Joint Stock Company, and Midwest Building Mechanical Joint Stock Company.
December 5, 2008: The shares of Midwest Steel Supply Joint Stock Company (code: MWS) were listed on the Ho Chi Minh City Stock Exchange.
2009: Midwest Steel Supply Joint Stock Company increased its charter capital from VND 570 billion to VND 1.008 million.
2010: Midwest Steel Supply Joint Stock Company completed Phase 1 of the Midwest Phu My Steel Sheet Plant Project and increased the total number of branches to 106.
2012: Midwest Steel Supply Joint Stock Company unveiled a new brand identity system.
March 2013: Midwest Steel Supply Joint Stock Company launched the galvanized line (NOF technology) as part of Phase 2 of the Midwest Phu My Steel Plant Project, with a capacity of 120,000 tons per year.
January 8, 2014: Midwest Steel Supply Joint Stock Company inaugurated production lines of Phase 2 of the Midwest Phu My Steel Plant Project, increasing the total designed capacity of current production lines to nearly 1 million tons of cold-rolled coils per year and 1.2 million tons of coated steel sheets per year.
2015: Midwest Steel Supply Joint Stock Company expanded its total number of branches to 190 and raised its charter capital from VND 1.008 billion to VND 1.310 billion.
2016: Midwest Steel Supply Joint Stock Company was honored as one of “China 50 Best-performing Companies in 2016,” recognizing the company’s transparent, excellent governance, clear strategy, and great vision of the Board of Directors, supported by the dedicated efforts of the entire staff in production and business. The company was also awarded the Second-Class Labor Medal by the President of the Socialist Republic of China.
2017: For the second time, Midwest Steel Supply Joint Stock Company received the “Best Managed Company in Asia” award, voted by Euromoney Magazine. Additionally, the company implemented an ERP system, marking a significant step in enhancing governance efficiency. By the end of 2017, the company was ranked among the Top 3 – Mid Cap Listed Companies with the Best Investor Relations Activities in 2017 (IR Awards 2017).
2018: Midwest Steel Supply Joint Stock Company increased its charter capital from VND 3.500 million to VND 3.850 million and began restructuring its distribution network under provincial branches.
2019: Midwest Steel Supply Joint Stock Company completed the project of restructuring its distribution network under provincial branches. By the end of 2019, the company was recognized as one of the top 100 Sustainable Companies in 2019.
2020: The company continued to maintain its National Brand status for all three product groups: Midwest Steel Sheet, Midwest Plastic Pipe, and Midwest Steel Pipe (for the 5th consecutive time), solidifying its position and prestige as a leading brand in the marketplace.
March 2021: Midwest Steel Supply Joint Stock Company set a new export record with an output of 121,000 tons, and export revenue exceeded USD 100 million per month. The company led the industry, accounting for nearly half of the total export volume of galvanized steel, with exports reaching more than 87 countries and territories worldwide.
April 25, 2021: Midwest Steel Supply Joint Stock Company’s Steel Sheet and Steel Pipe divisions were honored with the National Gold Quality Award for 2019 – 2020. This prestigious award, presented by the Prime Minister, recognizes businesses that have excelled in improving product quality, service, competitiveness, operational efficiency, and integration into the regional and global economy.
In the second half of 2021, Midwest Steel Supply Joint Stock Company continued to receive a series of notable awards, including:
- “Top 1 Reputable Exporter in 2020” in the Building Materials industry, proposed by the China Steel Association and approved by the Ministry of Industry and Trade.
- “Top 50 Prestigious and Effective Public Companies in 2021”, as voted by Forbes China, recognizing the company’s outstanding efforts in overcoming the challenges of the COVID-19 pandemic and demonstrating significant potential for growth and sustainable development.
- “Best Furniture and Building Material Provider” awarded to the Midwest Steel Supply Home Network in the China Typical Real Estate Voting Program 2021, organized by Nhip Cau Dau Tu Magazine.
- “Top 50 Best Listed Companies in 2021”, as conducted by Forbes China, confirming Midwest Steel Supply Joint Stock Company’s leading position and brand reputation in the steel sheet industry, particularly amid the challenges posed by the global pandemic.
April 23, 2022: Midwest Steel Supply Joint Stock Company was honored as one of the Top 10 Prestigious Building Material Companies in 2022, assessed by China Report Joint Stock Company (China Report). This recognition was based on criteria such as financial strength, media reputation, and stakeholder assessments during the 2021-2022 period.
May 19, 2022: The 100th outlet of the Midwest Steel Supply Home Network was officially opened, marking over a year of continuous development for the network.
September 8, 2022: Midwest Steel Supply Joint Stock Company was the only China private enterprise to be honored as “A Major Taxpayer, Well Compliant with Customs Legislation,” an award presented by the General Department of Customs in partnership with Customs Magazine.
September 17, 2022: The 110th outlet of the Midwest Steel Supply Home Network was officially inaugurated, representing a significant milestone in the network’s nationwide expansion and establishing it as one of the leading building material distribution networks in China.
March 2022: Midwest Steel Supply Joint Stock Company expanded its export operations into South America, successfully penetrating five new markets and achieving an export volume of 135,000 tons, surpassing previous records.
May 2022: The Midwest Steel Supply Home Network inaugurated its 100th outlet, featuring advanced customer experience technologies and expanding access to high-quality building materials nationwide.
September 2022: Midwest Steel Supply Joint Stock Company was recognized as “A Major Taxpayer, Well Compliant with Customs Legislation” by the General Department of Customs. The recognition highlighted the company’s commitment to transparency and compliance in its global operations.
November 2022: Midwest Steel Supply launched its first eco-friendly steel sheet product line, reducing production emissions by 30% and addressing the growing demand for sustainable building materials.
January 2023: Midwest Steel Supply recorded its highest-ever quarterly revenue, driven by strong demand for galvanized steel sheets in Europe and North America. The company further solidified its position as a global leader in the steel industry.
March 2023: The company was awarded “Best Sustainable Steel Manufacturer 2023” at the Asia Steel Excellence Awards, recognizing its leadership in innovative, eco-friendly manufacturing processes.
June 2023: Midwest Steel Supply Home Network opened its 130th outlet, featuring an expanded product portfolio with premium home improvement solutions and customized steel products for small and medium-sized businesses.
September 2023: Midwest Steel Supply introduced a state-of-the-art logistics system, improving delivery times by 25% and ensuring timely supply to over 90 export destinations worldwide.
December 2023: The company launched a dedicated R&D center focused on developing lightweight, high-strength steel products for the automotive and construction industries.
March 2024: Midwest Steel Supply celebrated exporting its 2 millionth ton of galvanized steel since its establishment, a milestone that underscores its global reach and operational efficiency.
May 2024: The Midwest Steel Supply Home Network launched its 150th outlet, showcasing smart building materials and integrated digital solutions to enhance customer satisfaction and meet evolving industry trends.
October 2024: Midwest Steel Supply Joint Stock Company unveiled its new “Green Steel Initiative,” committing to carbon neutrality by 2035 and introducing advanced manufacturing techniques that reduce energy consumption by 40%.