Location

109 Truong Chinh Street
Hanoi VIETNAM
Telephone: (84) 4 3869 1579
Facsimile:  (84) 4 3869 1632
Email:hn@austnam.com.vn
Website:www.austnam.com.vn
 

Austnam produces metal roofing and cladding from its factory in Hanoi which it distributes in that city and surrounding provinces. Austnam is one of a limited number of foreign invested enterprises which has been converted into a joint stock corporation.

VII acquired the company in 1997 when it acquired all of the issued capital of Parnham Overseas Ltd (“POL”) through a wholly owned subsidiary, Ausviet Industrial Investments (S) Pte Ltd.

Austnam Joint Stock Corporation is a joint venture company established under the Foreign Investment Laws of Vietnam between POL and Hong Ha Building Materials Import Export Company (“Hong Ha”). The Investment Licence was issued on 27 April 1992 for a term of 20 years.

In 2002, VII reduced its share of current year profits to 68 per cent. Then, in 2005, Austnam was converted to a shareholding company under a pilot scheme to allow a limited number of foreign enterprises to convert into joint stock companies. With the conversion to a joint stock company, VII has an interest of 67% in Austnam and that the Investment Licence no longer has a fixed term.

Further detail on the company's operations can be found in theAnnual Reports and ASX Announcements sections.