V-Kool Corp. Thai questions ethical practice of Eastman Chemical Inc.

ข่าวยานยนต์ Monday September 21, 2015 12:12 —PRESS RELEASE LOCAL

Bangkok--21 Sep--24 คูณ 7 V-Kool Corporation Thai Company Limited, one the two sole distributors of V-Kool heat protection film in Thailand, has questioned the top management of Eastman Chemical Inc. about the ethical practice when it decides to select only one distributor in Thailand despite the negotiation has not finished. Mr. Konton Jaturapattarapanit, Chief Executive Officer of V-Kool Corporation Thai, said he questioned CEO of Eastman Chemical Inc. about the decision of distributorship in Thailand which was in a rush and hurry which against the good governance practice of Eastman Chemical Inc. should treat with a partner who had 21 years relationship. "I would say during their press conference announcing the change in Thailand, we have gotten not even one piece of paper showing the change of distributorship in Thailand. In fact, we have booked a prepaid booth for the year end MOTOR EXPO 2015 for December. But one thing I would like to confirm is that while the commercial department of Eastman had been selling us window film through the entire 2015, the management executives of the company, on the other hand, joined a press conference to announce the change of distributorship in Thailand. To the day that Eastman made the public announcement, the company still has outstanding film that's supposed to be sent to us. Unfortunately, this practice badly affected our business and reputation badly, causing me to question the good governance practice of Eastman Chemical Inc.," said Mr. Konton. Mr. Konton added that he was the one who signed a distribution contract for Thailand in the past 22 years when V-Kool was not available on the market at that time, and he was the one to explore the premium heat protection film for automobile encouraging V-Kool to be well accepted by the market. "In practice for a company who has good governance manner, before decided to do something that affected its partner, the company would have to coordinate with the partner in advance, including a joint communication with exit plan for the partner to shift out of the market. As we have been in the business for 21 years, there are many binding commitments such as outstanding projects involving our partners and customers, warranties, claims, real estates, employees, etc. However, we have been treated by the company who claims the high standard of good governance practice that one section sent products to us for sales locally while the other section joined a press conference announcing the change in Thailand" he said. "I, actually, love and care for V-Kool as if it was my own child because we were together for more than 20 years. It is not so much the change of distributorship that is disturbing, but it is the way that things are being handled in the midst of so many unresolved issues. There's no communication whatsoever, and I am saddened about what had happened. Now, many V-Kool film installation shops are confused about the change. Moreover, I will have to speak for my team who visited and sold films to the customers with clear understanding of the rights of selling V-Kool film prior to the announcement. So, if I say nothing today, it will mean I had allowed my team to tell lies to our shop partners about the product that we have been selling for the entire year of 2015. This, I cannot accept," said Mr. Konton. He said he needs to know the responsibility of Eastman Chemical Inc. because the customer had been questioning about their warranty of V-KOOL film when we sold the product. Unquestionably, our reputation is a stake, not to mention the morale of our employees who do not know how to address the customers' inquiries. Moreover, the company has pre-order from customers, with outstanding projects that are secure, while many are still pending. What had recently took place created uncertainty that definitely affected the company's opportunity and caused the potential customers to change their purchase decisions, thus opting to place order with other brands, instead. "I definitely will try my best to look after the customers, partners, and my staff because we are a good governance company in the market, but we are badly affected by the Eastman Chemical's decision done by some management executives. I had tried many times to contact the company's representatives and upper management, but no one has come out to sincerely work with us at all. So, I would like to know who will take this responsibility for the affect that is happening at this very moment. This is another question that I would like to ask the CEO of Eastman Chemical. Please answer me who have generated revenue for the American company continuously for over 21 years," said Mr. Konton. He added that the company's valuable customers and partners would have questions about the warranties and claims of the film installed by the company as well as after sales service. Moreover, there large audiences of ours who are not yet V-Kool customers, but has the potential to become one. As they receive the message from the news report of the recent press conference, they will become reluctant to purchase V-Kool film as a result, causing them to change decisions to purchase other brands.

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