Managing director Nikom Tewuthatanont said the plant was being built and would begin operations in January.

He said the company's total investment budget for this year was Bt400 million, with another Bt400 million for use from next year through 2011.

Half of the investment budget comes from the company's capital and half from bank loans.

In July, the company increased its registered capital from Bt20 million to Bt110 million. Nikom Tewuthatanont and his group own 51 per cent and German-based ThyssenKrupp 49 per cent. Also in July, the company changed its name from Thai-German Special Steel Centre to ThyssenKrupp Materials (Thailand).

In accordance with the company's business expansion, Nikom said sales were expected to grow from an estimated Bt300 million this year to Bt800 million next year.

The company expects sales revenues of Bt2 billion in

2011, when the business expansion is scheduled for completion.

The main business of ThyssenKrupp Materials (Thailand) is importing high-quality steel, raw materials for making "high-speed" steel, injection moulds and blankings.

Nikom said that once the heat-treatment plant was operating, production capacity for heat-treated steel would be 360 tonnes a month. The company is also preparing to produce plastics for industrial and visual-communications uses next year, another part of its plans for boosting sales.

"Demand for heat-treatment services in Thailand has shown strong growth, especially among auto firms that have expanded in Thailand. As a result, demand for high-quality services, especially heat-treatment services, has increased. This is a good time to expand our business," said Nikom.

Somluck Srimalee

The Nation