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Published on September 5, 2007

Managing director Samitt Palitagram said in a filing with the Stock Exchange of Thailand yesterday that the assets purchased for a price not exceeding Bt180 million were a factory, office building, machinery, tools and equipment for assembling household air-conditioning.

The acquisition will support SNC Former's original-equipment manufacturing (OEM) export-business expansion.

The company will use a mixture of cash and loans to finance the acquisition.

SNC Former is a manufacturer of metal pipes, compressors and parts used in the production of air-conditioning units for automobiles and buildings. Its products are sold mainly as OEM parts to large manufacturers based in Thailand.

Separately, the company said it would allocate 100 million capital-increase shares through a public offering. Proceeds will be used to fund its business expansion, repay debts and act as a reserve for working capital.

The Nation