Aluminium dealer BFM to shift its focus

The company, which has been operating in Thailand for a decade, plans to expand into Cambodia, said managing director Kasipan Siritham.

He said 70 per cent of the company's revenue came from the high-rise sector but that the construction industry was experiencing a slowdown. The other revenue source was installing fire-rated aluminium composite panels for billboards at car showrooms and petrol stations.

"The slowdown in the high-rise construction industry will have a negative effect on the company," Kasipan said.

He said the company saw room for growth in the private real-estate sector, especially a high demand for fire-rated composite materials.

"Home-owners are considered as a prime market segment. They want the best materials for their homes. That's our target, because our product is top quality," he added.

BFM has targeted revenue of Bt350 million this year, up 25 per cent from Bt280 million last year.

The company has an order backlog for installing fire-rated aluminium composite panels for signboards at Jet service stations, which will change to PTT next year.

BFM has been operating in the aluminium composite materials market for 12 years, offering a wide range of environmentally friendly products. However, it is not well known outside of the construction industry.

"Our products may not be familiar to the general public. We must stage a roadshow to advertise them and introduce them to owners of construction projects and home-owners," he said.

Prices for Alpolic/fr products are 20-30-per-cent higher than other aluminium composite products, but long-term maintenance costs are lower, Kasipan said.

BFM is the leader in premium aluminium products, with a 70-per-cent market share, but only 30 per cent of the Bt1-billion aluminium composite materials market.

Deputy managing director Pongsatorn Siritham said the company recently set up a joint venture with a Cambodian firm to sell market Alpolic/fr products in that country.

"We have three projects in Cambodia. Our partner will be responsible for marketing, while BFM will oversee production and education on installing the products," Pongsatorn said.