Team Precision exports less to the US
Team Precision Plc plans to cut its exports to the US, to avoid the sub-prime crisis impacts, said CEO Chakkaphant Manutsathit.
The exports to the US would be cut from 70 per cent of total output to 60 per cent this year, and the company will seek more clients in Europe which usually absorbs only 20 per cent of the output.
Last year, the electronics part maker exported 70 per cent to the US, 20 per cent to Europe and Asia 10 per cent.
Chakkaphant said that in 2008, the company targeted Bt2.6 billion in revenue, an 8 per cent increase from the previous year. The company just opened an office in Europe.
The gross profit margin will be maintained at 21 per cent.
"The stronger baht should not affect the profitability as we have fully hedged against currency fluctuation," he said.
The company has set aside Bt100 million for investment this year, mostly on machinery and equipment to boost the production efficiency for new orders. The Prachin Buri plant was expanded and completed in January. The plant covers total area of 24,000 square metres.
- The Nation
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