"The industry is expected to double its size by 2010. So, we expect to grow three times," Yeap told reporters on the sidelines of a press conference.

AAPICO has established joint ventures with Japan's Mitsuke Corp and Katsuya International Private Ltd and Singapore's Jackspeed Corp, in an effort to expand its markets.

AAPICO Mitsuike, in which AAPICO Hitech holds 51 per cent, will focus on supplying Nissan with parts and components. "We have already received orders from Nissan for more than 100 parts, which we plan to start producing at the end of this year and early next year," said Yeap.

The company also plans to expand its factory to cope with rising demand from the Japanese auto giant which will manufacture 10 models in Thailand over the next three years to boost its annual production to 200,000 units.

AAPICO has also taken a 60-per-cent stake in AAPICO Jackspeed Co Ltd, to produce accessories for Thai pickup makers. The joint venture was formed with Jackspeed, in which AAPICO holds a 20-per-cent stake, and is expected to generate Bt200 million in annual revenue initially.

The parts-maker also formed a joint venture with its 51-per-cent-owned subsidiary, Katsuya (Thailand) Co Ltd. AAPICO owns one-third of the joint venture, Katsuya International Co Ltd, which will supply auto components to the overseas market.

Yeap said the new joint ventures would "enhance our company's capabilities to become a global auto-parts manufacturer and supplier".

In its first business deal, Katsuya International has signed a memorandum of understanding with Mother Sun Co Ltd, a fast-growing parts-maker in India. Katsuya expects the agreement will help give a toehold in the burgeoning Indian car-parts market.