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Eco-car policy a major boost for thai summit |
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Thai Summit Autoparts Industry expects to nearly double its revenue from 38 billion Baht last year to more than 60 billion Baht in 2013 thanks to the government's policy to support domestic eco-car production, as well as the company's overseas business expansion. Thailand's annual vehicle production is expected to reach 1.8 million units in 2013, compared to 1.2 million last year, executive vice president Thanathorn Juangroongruangkit told The Nation in an interview last week. "We have to outperform the market. I believe that Thai Summit has the potential to grow by 100 per cent," he said. He feels Thai Summit has very good chances of winning new supply contracts from eco-car producers. "To prepare for this, the company this year will invest Bt2.8 billion, mostly in domestic business expansion and production improvement," said Thanathorn, adding that the investment is the company's biggest in seven years. The company's five-year plan targets revenue of Bt50 billion in 2012, but Thanathorn believes it will reach the target much sooner than expected. Thai Summit expects revenue of Bt42 billion-Bt43 billion this year, up from Bt38 billion last year. The company generated revenue of Bt6.1 billion in the first quarter, up 7 per cent from the same period last year, while earnings before interest, taxes, depreciation and amortisation increased by 23 per cent due to productivity improvement, Thanathorn said.
He said the company had performed well overseas, particularly in India
and Indonesia. Three years after entering India, the Thai Summit has
five plants there that generated revenue of Bt2.4 billion last year.
Revenue from the Indian operations this year is expected to reach Bt3
billion. |
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The Nation, 23.06. 2008 |
