Local timber producer, An Cuong Wood Working JSC, has announced a cooperation agreement with Sumitomo Forestry American, a subsidiary of Japan-based Sumitomo Forestry Group, to provide furniture for projects in the United States from 2022 onward.
Sumitomo Forestry America has invested billions of dollars into the US market and owns many real estate and construction companies. The company planned to launch thousands of housing products in the US.
According to An Cuong, the cooperation was expected to help it earn tens of millions of US dollars per year.
An Cuong's representative said: "It will be a great opportunity for An Cuong to boost its business activities in the largest economy in the world."
An Cuong chairman Le Duc Nghia said the firm exports some US$20 million worth of products stateside each year, estimating the cooperation with Sumitomo Forestry American could help the firm's export revenue generation to reach $30-50 million per year in the market. — VNS
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