During a recent meeting with industrial manufacturing subsidiaries, leaders of the Vietnam Rubber Group (VRG)affirmed their commitment to fully support restructuring initiatives, helping companies focus on their core manufacturing operations, pursue sustainable growth, and achieve breakthrough performance in the post-pandemic era.
Overcoming Challenges and Standing Strong After the Pandemic
Through strict management and creative operational measures, Geru Star Sports JSC (Geru Star) produced more than 279,000 sports balls in Q1 2022 — achieving 132% growth year-on-year and surpassing 29% of its annual plan. The company sold 276,000 units, reached over 144% of last year’s volume, and earned VND 22 billion in revenue, ensuring stable jobs and income for more than 130 employees.
Dong Phu Rubber Technical JSC also faced headwinds in 2022 as global consumer demand weakened and raw-material prices surged. Competition intensified, particularly from low-priced latex mattresses and pillows imported from China.
According to Mr. Đàm Duy Thảo, General Director of Dong Phu Rubber Technical JSC:
“We are expanding our distribution network, refining sales policies, and enhancing customer care. Our products are now available through retail chains such as Con Cưng, e-commerce platforms, and TV shopping channels like VTV Hyundai and GS Shop. We are also working with VRG’s Marketing Division to promote products at international trade fairs and introduce discount programs for VRG employees and state-owned corporations — a strong channel to sustain sales during tough times.”
VRG Deputy General Director Mr. Trương Minh Trung emphasized that industrial subsidiaries must accelerate restructuring in line with VRG’s roadmap, focus on core business lines, and develop adaptive, scenario-based management models to ensure long-term recovery and sustainable operations.
Restoring Production and Achieving 2022 Targets
At Geru Star, trade-promotion and export activities were intensified early in the year. The company signed long-term export contracts through online platforms such as Lazada, securing stable monthly output.
It also partnered with sports organizations and training centers to sponsor tournaments, boosting brand awareness for the “Geru Star” line of professional sports balls.
Mr. Nguyễn Văn Trạng, Deputy General Director, noted that as global sports activities resumed, the company’s production momentum improved sharply:
“Our rubber-ball segment now accounts for 52% of total production, with major export markets including the U.S. (73% of total output), South Africa, Japan, Taiwan, and Belgium. We continue sponsoring school sports tournaments and community competitions to promote the Geru Star brand during the 2022 summer sports season.”
Geru Star targets the production of 960,000 balls this year, maintaining “produce-and-sell-immediately” operations, achieving at least 2.6% revenue growth, and earning over VND 1.5 billion in profit. The company also ensures an average monthly income above VND 9.8 million per worker.
Technical Rubber Enterprises Strive for Stable Growth
At Tam Hiep Technical Rubber Enterprise (under Rubico – Rubber Industry & Export JSC), management continues to adapt production to market fluctuations to maintain competitiveness.
Director Ms. Nguyễn Thị Thanh shared:
“We actively seek new orders to sustain operations and ensure job security. Workers are our greatest asset, so we provide support to those in hardship and maintain open dialogue sessions between management and employees. Transparency about business plans and workers’ benefits helps strengthen trust and loyalty.”
In 2022, Tam Hiep plans to produce over 1.4 million rubber components, exceed revenue and tax targets, and secure 10–15% growth over 2021, while maintaining higher average incomes for all employees.