Published on June 24, 2005

Thai Const and Building Manufacturing yesterday revealed it had successfully taken over Japan’s Hory Engineering Co Ltd and planned to list the company on the Stock Exchange of Thailand this year.

Thai Const and Building Manufacturing – a leading manufacturer and renter of construction scaffolding – has finished a mutual agreement on the acquisition of the Japanese manufacturer as part of its overseas business expansion.

“The Hory brand is well known and respected in Japan and in the region. The acquisition of Hory Engineering will create synergy within the company and allow Thai Const to gain new technology as well as expanding its distribution outlets and leveraging the brandname,” said Prasit Kanchanasakdichai, Thai Const’s chairman. The company did not reveal the financial aspects of the deal.

Advised by Bank Thai and BT Securities, Thai Const aims to list on the SET by the fourth quarter.

BankThai executive vice president Takashi Kusumoto, who led the deal through BankThai’s Japanese business development team, said the group has a large number of Japanese customers based in Thailand and is working on deals with many Japanese clients who are interested in investing in the Kingdom.

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