After 20 years in business, Quickcote ready to expand

After spending the past 20 years developing its business, Quickcote Products Co, a Thai producer of mortar and skim coating and owner of the Pendulum brand, is set to expand in both Thailand and the CLMV markets – Cambodia, Laos, Myanmar and Vietnam.

President Prapharat Siriwattakanon said the company, which just celebrated its 20th anniversary on Wednesday, has set a two-year (2015-16) investment budget of about Bt500 million. It will go towards a new cement plant, warehouses and logistics centres, as well as acquisition possibilities.

“We will invest about Bt200 million in a new skim-coating plant to be constructed on a 50-rai plot close to our existing cement plant in Ratchaburi province. The new plant will be completed within two years. The company also expects to increase its operational staff at its cement plant from 200 currently to 300 people within two years.”

She said that at present, the company was able to produce about 500,000 tonnes a year of mortar and skim coating, at its own plant and two outsourced manufacturers in Ratchaburi and Saraburi provinces via OEM (original equipment manufacturing) contracts. 

Half of the production capacity will be from OEMs. The company is running at about 80 per cent of its full production capacity.

“We are also looking to set up our first warehouse on our 35-rai vacant plot in Vientiane to be a distribution centre for our cement products in Laos, Cambodia and Vietnam,” she said. “Personally, what I dream for the future is for all of our staff to have good working and living conditions,” Prapharat said. She added that the company’s new six-storey headquarters, worth about Bt140 million, on Nakhon In Road in Nonthaburi was under construction and would be officially opened at the end of next year. 

The company employs about 60 office people currently.

Rachan Sotarat, marketing manager of Quickcote Products, said the company was looking for potential dealers and business alliances in CLMV markets. 

“The Asean Economic Community will be effective next year and as a local player we need to cash in on the coming opportunity,” Rachan said. He added that the company would conduct feasibility studies of particular CLMV markets on the logistics costs and whether it would be able to sell its cement products at competitive prices.

Rachan said the company currently earned no revenue from exports, but shipments of its products, mainly from CLMV markets, would contribute about 30 per cent of the total turnover within five years.