The goal is to generate annual sales growth of 10 per cent, double the current figure.

The company plans to spend Bt450 million to increase production capacity and manufacture new products at its plants in Thailand and Vietnam, said group president Sanan Angubolkul, adding that it would also establish a new plant in India to manufacture melamine tableware.

Srithai's trading unit started recently by selling Lock & Lock food containers from South Korea. Sales are expected to reach Bt50 million this year, increasing to Bt100 million next year and Bt200 million in 2008.

Three other products in the pipeline for launch in January next year are Ghidini tableware from Italy, Wenger knives from Switzerland and Evolutif premium furniture from France.

The manufacturing department is launching seven new products for household use and four for industrial use.

The company currently has three plastic plants in Thailand with an annual capacity of 35,800 tons, plus a melamine plant with a capacity of 11,000 tons. It also has three factories abroad: one for plastics in Vietnam and two for melamine in China and Indonesia.

Srithai is negotiating with four Indian companies that approached it for a joint investment in the country. The company does not expect to construct a new plant but to rent one initially.

Sanan said the company was also negotiating to take over some similar manufacturers in Thailand.

Srithai will also diversify into the direct-sales business by joining with Singapore's WBG to set up Srithai WBG to sell health, skincare, food supplements and other products. Srithai will hold a 60-per-cent share of the new company. Registered capital is Bt1 million. The company expects to start selling its first products late this year after approval from the Food and Drug Administration.

Srithai expects to generate Bt4.45 billion in sales this year and Bt5.5 billion next year. The domestic market is expected to account for 81.8 per cent of sales, with the rest from exports.

Srithai currently exports to 60 countries and plans to increase that figure to 100 by 2008, said Prin Pholaniwat, deputy managing director of finance and management.

Nitida Asawanipont

The Nation