TMC Industrial plans hydraulic machinery JV in Laos
TMC Industrial entered a memorandum of understanding yesterday with Laotian company SV Construction to establish a new company in Laos under the name TMC-Lao Assembly and Manufacturing Co to assemble and manufacture hydraulic machinery.
The joint venture will have registered capital of 1.43 billion kip for a total investment of about Bt5.72 million.
TMC Industrial will hold 70 per cent of the joint venture, while SV Construction will own 30 per cent.
Funding source
The source of funds for the investment is TMC working capital. TMC chief executive officer Surachet Kamolmongkolsuk said the JV would focus on both state and private customers and was expected to start operation next month.
TMC has targeted revenue growth this year of at least 25 per cent from its 2012 revenue of Bt1 billion. Its net profit last year was Bt135.5 million.
The company reported revenue of Bt170.53 million and net profit of Bt16.13 million in the first quarter of this year.
