Singha Paratech to expand
Singha Paratech Plc, a maker and distributor of instant wooden floor planks, will spend Bt250 million to expand its production capacity from 1.5 million square metres to 2.2 million square metres in the next year, said CEO Somchit Bosereewong.
He said the budget for the expansion would come from the company's cash flow and bank loans. The increased productivity is ex-pected to help the company boost sales 40 per cent to Bt1.4 billion next year. The company expects sales of Bt1 billion by the end of this year, up from Bt750 million last year. Singha Paratech Plc currently manufactures instant wooden floor planks for residential and office floorings under its Singha Parket label. The company takes custom orders, as well. To help achieve its sales target, the company yesterday appointed Cementhai Sales and Marketing Co Ltd, the marketing arm of the Siam Cement Group, to be its exclusive distributor. The company expects the deal to increase its domestic sales from 20 per cent of total sales before to 30 per cent this year and 50 per cent next year. Somchit said the deal would allow Singha Paratech to be featured in Cementhai Home Marts, of which there are 300 branches nationwide. At present, 80 per cent of its total sales come from export markets in Asia (excluding Thailand), Europe, the Middle East, the US and Canada. The company reported total first-half sales of almost Bt421 million for a net profit of Bt35.56 million.
Somluck Srimalee The Nation
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