VINACHEM

Recently, the difficulties by the global economic recession, prices ofmaterials such as sulfur, SA, urea, potassium and petrol ... erratic fluctuations in upward tendency effect to the cost of the fertilizer products of Lam Thao Fertilizers & Chemicals Joint Stock Company (LAFCHEMCO); Besides, the flood in Central has done serious damage to farmers and narrow the planted area, many places do not grow winter crop to make reduced demand for fertilizer, fertilizer inventories is 300,000 tons, causing stagnancy of capital , affecting the profitability of the company ...

In that situation, The CEO of LAFCHEMCO has proposed a sprinted emulation and commendation for the whole Company in two months last year and the year 2010.

Whereby, there are three main target:

-First, the plan targets for production and business: The company strives for the fourth quarter achieve 285 billion, whole year achieve 1,062 billion VND (100% plans are shareholders' meeting approved, as 100% compare with 2009), with the main products such as total acid of the fourth quarter achieve 81,800 tons , whole year achieve 280,000 tons, total fertilizers achieve 413,000 tons, whole year is 1.545 million tons

-Target of consumption products: consumption products sales of fourth quarter achieve 826 billion , whole year is 3,500 billion VND (equal to 100% of the plan, up 4.5% compare with 2009) with the main products consume, that is: total acid of fourth quarter achieve 3,500 tons , whole year is 10,000 tons. Total all kinds of fertilizer of fourth quarter achieve 322,500 tons , the whole year is 1.275 million tons

- Target for investment and construction: The company strives for the fourth quarter achieve 24.4 billion on capital construction investment values, the whole year is 112.5 billion, increase 4.5% compared with the scheme. The completion of each phase of key projects such as inauguration and put into operation the Fused magnesium phosphate production line having capacity of 300,000 tons/ year, ensuring ensure stable activities; Complete construction, equipment installation of renovation project for manufacture super phosphate by the wet milling method capacity of 400,000 tons / year; Submitting for approval of investment decisions, procurement plan, approved environmental impact assessment of sulfuric acid production project of capacity 400,000 tons/ year; SA SA plant with a capacity of100,000 tons/ year and 12MW power plant; To deploy building operating-house of the super phosphate plant.

Basing on three target, Board of Directors has given the conditions and rewards as follows:

If any unit of the company strive for fulfill business and construction investment plans under the three target, and also successful implementation of the management aspects of unit operations such as quality management products, economize on resources and materials... the CEO award at the rates corresponding to strive for results. The total award expectation is 1.5 billion.

The unit of the company fulfill the plan by three target specified in Article 1 of this regulation by 5% or more, be added 10% bonus at the rate specified.

The unit of the company is not completed according to three target or labor accidents occur which workers have off work leave from 10 days or more, or to use waste or loss of property value from 05 million or more shall be considered to reduce the level of reward or no reward.

Basis for calculating the bonus is based on data confirmed completed business plan and construction investment planof the planning and supplies department , Finance and Accounting department, Labor Organizations department and Business department when end of financial year 2010.

Promulgating sprint emulation commendation regulation in the current context is a positive move and a wise decision of The Directors to complete excellent mission and business plan proposed in 2010.