Bangkok Sheet Metal inks joint venture MoU with Myanmar partners
Bangkok Sheet Metal has signed a memorandum of understanding with Great Merits and Tunn Star, its local business partners in Myanmar, to grow their business in metal products manufacturing and sales, and also aims for 20-per-cent growth in its current fiscal year – with a backlog of Bt500 million.
Chief executive officer Tanin Sajjaboribun said on Monday that the objective of the MoU is to make joint investment by establishing a joint-venture business in the Thailawa Special Economic Zone in Yangon, in order to increase its partners’ capacity for manufacturing and supplying roll-forming products, enclosures, cabinets, communication racks and other metal products.
“Our unique integrated expertise, experience and resources will enhance production capacity, cost reduction and profit-margin increase, including customer base and market expansion in Myanmar and other Asian countries. In addition, this will further develop closer economic relations between Myanmar and Thailand,” the listed company’s CEO said.
As it aims for fiscal-year growth of 20 per cent and has a backlog worth Bt500 million, Bangkok Sheet Metal keeps moving forward with new project leads to deliver better business result in the future, he added.