Established in 1993, Animal Product Processing Joint Stock Company (Aprocimex) has overcome numerous difficulties and challenges to secure its current market. With the collective effort of the entire company and especially the resilience, boldness and straightforwardness of President and CEO Doan Trong Ly, Aprocimex has made a strong impression on animal feed market.
In the first days, the company was weak in all aspects, leading poor sales and rampant layoffs. The firm suffered VND4 billion of losses plus VND2 billion bank debt after five years of operation. The “Aprocimex picture” was completely dark at that time.
The company could not wait for windfall or luck, but it had to rescue itself first before receiving any outside support. Hence, it performed a thorough reshuffle. The company’s proposal was approved by the higher leadership. For his part, Doan Trong Ly, with the trust of all employees, assumed the leadership to revive Aprocimex’s production and business activities. He accepted because he believed in the power of solidarity, determination and consensus of the entire staff.
The first difficulty he had to resolve was investment capital for production development. The company was heavily indebted to banks and its accounts were blocked from 1997 to 2000. To deal with this quiz, he borrowed, free of interest, from friends, relatives and family members. And, his VND600 million at that time opened the way for the company to banks. The first task he and the Board of Directors defined was to reshuffle its apparatus and personnel force. Besides, based on domestic livestock development, the company had sound business directions to meet the feed demand of the livestock industry.
And sweet fruits…
After two years, Aprocimex attained remarkable achievements. The company paid off all debts, made increasing annual revenue, and provided stable employment for workers. In 2004, at the instruction of the State, the company went public with only VND2 billion of capital – a modest value for an importing – exporting company. However, with the support of Vietinbank – Hai Ba Trung Branch and the contribution of all employees, the company raised the share capital to more than VND10 billion. Doan Trong Ly himself could not imagine that a new phase of development Aprocimex officially started from that time.
To have the today’s sweet fruits, the trust of Vietinbank played a vital role. The bank assisted the company to make remarkable progresses. The customer base increased from 30 animal feed production factories to more than 400 units across the country. It also has 15 prestigious international partners. Therefore, the total annual supply output has reached 200,000 to 300,000 tonnes and revenue growth reaches 65 per cent a year. After five years operating as a joint stock company, Aprocimex paid nearly VND150 billion to the State Budget. From an input supplier for animal feed producers, the company has now expanded into other business scopes. This is an important factor for Aprocimex to create new momentums to quickly expand the market share and meet higher requirements of customers.