PJW boosts sales-growth target to 25%
Panjawattana Plc (PJW), a supplier of plastic to the automotive and packaging industries, has revised upward its sales growth target for this year to 25 per cent from 20 per cent thanks to higher demand for plastic in the automotive, milk packaging and lu
“The company has prepared for an increase in orders by expanding its production capacity after the board approved an investment budget of Bt566 million,” said PJW chairman Wiwat Hemmondharop.
Sales were previously targeted at Bt1.64 billion, up 20 per cent, based on the assumption that there would be no further flooding or severe deterioration in the global economy.
According to data provided by the Federation of Thai Industries, Thailand’s car production in June was a record 205,600 units. This has had a positive impact on the company’s sales growth, which is linked to car-sales growth. Total car production for this year is targeted to reach 2.2 million units.
In the second half of this year, the company expects sales growth in the automotive sector of 5-7 per cent, driven by the launch of a number of new car models, Wiwat said. Meanwhile, the milk-packaging and lubricant-oil industries are expected to grow by 3-5 per cent due to high season in the Chinese market in the third quarter.
