Srithai Superware aims for 20% revenue growth in 2013
Srithai Superware, the world's biggest maker of melamine-resin products, projects sales revenue to increase by more than |20 per cent to almost Bt10 billion next year, driven by overseas |business expansion and rising |production of food and drinks |packa
This year, sales are expected to reach Bt8.3 billion, an increase |of 20-25 per cent from 2011. This performance is better than ex-|pected, as its previous sales projection was Bt7.8 billion.
For 2013, however, Srithai has a conservative target of Bt9.5 billion, though it is likely to reach Bt10 billion, said company president Sanan Ungubolkul.
Its overseas sales revenue represents 27 per cent of the total. Its products are sold in 110 countries, both those shipped from Thailand and those produced by its plants overseas. Its major markets are in the Middle East, followed by other Asian countries, Europe, and the United States.
Over the next five years, domestic and overseas sales are expected to be equal.
Sanan said the company had |kept its focus on expanding over-seas. Over the next three years, it plans to set up four new plants in Indonesia and India to produce |plastics and melamine resin to |serve rising demand in those two nations.
One of the new plants in Indonesia, located in Jakarta, will produce plastics, while the other one in Surabaya produces melamine.
The company is in talks to purchase land, requiring plots of more than 20 rai (3.2 hectares). It expects construction to start within the next two years.
In India, Srithai Superware has had a foothold for 30 years, and set up an office there two years ago. Given big potential with that country’s high population, the company will start construction next year on a melamine-resin plant. In 2014, it will start to produce raw materials for the manufacture of melamine products and in 2015 a plastics factory will be built, aimed at becoming an integrated production.
Sanan declined to disclose the cost of the four plants, but previously said he intended to expand the company’s business both domestically and internationally with a total budget of Bt3 billion. Of that total, Bt900 million will go to overseas to expand its melamine and plastics production in Asia, and Bt2.1 billion will go to domestic market.
The company is currently constructing a factory to produce plastics in Vietnam, costing Bt800 million, with production to be commenced next month. There is also a melamine plant in China to serve the domestic market and also exports.
