BANGKOK Glass Plc is reshuffling its portfolio as the company gears up for further expansion in its alternative energy business, president Pavin Bhirombhakdi said.
The company will invest Bt7 billion this year in building up its four major businesses – glass containers, float glass, non-glass packaging, and alternative energy.
“We are embarking on significant changes to our structure and business expansion,” he said. “After more than 40 years of operations, these changes will help the company to adapt in order to reduce the business risks as well as help the company to move forward and be more comprehensive.”
Pavin said that in 2017 the company introduced new businesses, such as the business integration between float glass and building materials. In the future, the alternative energy business will be interconnected with the existing businesses like the non-glass packaging business.
He said that the overall picture for the business in 2018 would be one growth, supported the recovering economy.
“Our packaging business, especially, could grow remarkably due to the growth of food and beverage business which resulted in the increase in demand for packaging containers,” Pavin said. “Meanwhile, the growth in the float glass business will take a certain period of time.”
He said the company had recently opened its float glass factory on a 150-rai plot in Prachinburi province at a cost of Bt5 billion. The factory started operations in September last year.
“We are discussing with potential partners, both in Thailand and abroad, for investment possibilities in alternative energy projects. The negotiations with some foreign investors have been initiated,” said Pavin, adding that the company has already invested in the opening of two solar power rooftop facilities at its existing glass contain factories in Ayutthaya and Khon Kaen with combined capacity of 4.5 megawatts. The facilities, however, are expected to increase capacity to 10 megawatts by the end of this year.
“We expect the overall investment to reach approximately Bt7 billion this year, to be allocated to our four core businesses. We also expect our total revenue to increase by about 10 per cent this year, up from the between 4 per cent and 5 per cent growth posted in 2017,” said Pavin.
Bangkok Glass’ subsidiary BG Container Glass Co Ltd is preparing to file for a public securities offering by April to be listed on the Stock Exchange of Thailand.