Briefs

Investment projects worth Bt5.13 billion from 184 foreign companies were approved for promotion in the first seven months of this year, according to the Commerce Ministry.
This was an increase of 21 per cent in number and 13.4 per cent in value from the same period last year.
Last month, the investment projects of 30 foreign entities were approved, with combined value of Bt737 million. They are set to employ 176 local workers. Five of them would invest Bt534 million for projects awarded by the government or state enterprises.

Joint fund for Mosaic
The Export-Import Bank, as lead arranger, and CIMB Thai Bank and Tisco Bank, as syndicate partners, would lend Bt1.52 billion to support the expansion of Union Mosaic Industry Plc’s manufacturing capacity.
The loan will be used to finance UMI’s acquisition of TT Ceramic, a major manufacturer of porcelain tiles, following UMI’s recent joint venture with Royal Ceramic Industry Plc, a leading manufacturer of wall tiles. This financial support aims to facilitate the expansion of UMI’s manufacturing capacity and distribution of floor tiles, wall tiles and mosaic tiles under the brands of Duragres and UMI in both domestic and overseas markets.
UMI operates two plants in Saraburi. The acquisition of TTC will result in an increase of UMI’s capacity from 20 million square metres per year to 36 million square metres.
Besides the cost savings from merging capabilities as opposed to building a plant, the deal helps reduce marketing and logistics expenses since all the facilities are located close by.
 

Production milestone
Thai Honda Manufacturing Co, a Honda motorcycle and power products production company in Thailand, on Monday held a ceremony to commemorate the 20 million-unit milestone in power product production that was reached on Saturday, at the production plant that opened last August.
Thai Honda, which began power product production in 1987, achieved the 20 million-unit milestone only four years and nine months after achieving the 10 million-unit milestone in October 2007.
At the new power product plant, Thai Honda is producing Honda’s best-selling GX engine series, which are small-sized, lightweight, highly compatible and durable, as well as water pumps and trimmers. It currently has an annual production capacity of about 2.7 million units. – The Nation