Bangkok--11 May--Worklink PR
STA goes ahead to keep its leadership in the global rubber market by having a target to control the leading market share to maintain its status. It's confident its demand would still increase and its trend would continue growing. Meanwhile, it announces to help upgrade Thailand's rubber industry from upstream to downstream businesses, via its corporate strategy, 'The World's Largest Green Rubber Company'.
Veerasith Sinchareonkul, director of Sri Trang Agro-Industry Plc (STA), says this year the company has a goal to keep the leading market share in the global natural rubber market, which last year was kept at 12% share, thanks to a rising demand from the global market. According to IRSG, it expected that its demand would be at 12.9 million tons. Currently, the company has the biggest production capacity from 35 manufacturing plants and having distribution centers to serve demand across the globe.
This year, the firm has kept focus on innovation development carried out by the company's research and development department, aimed to support the process of raw material production and finished products to expand customer base in countries worldwide and increase its production capacity to 2.9 million tons from 2.4 million tons last year.
"At present, the company is the only one in the global natural rubber industry which operates the rubber business to cover from upstream to downstream. Last year, it grew up to 33%, against the global natural rubber expansion of only 3%, or with a demand in natural rubber of 12.5 million tons. Its growth was the highest statistics in the natural rubber history. Then, we've a goal over the next two or three years to gain a market share of 20% and will still keep its leadership in the world market from upstream to downstream, which produces medical gloves as well," Veerasith said.
For downstream business as a subsidiary company, Sri Trang Gloves (Thailand) Co., Ltd. is the Thailand's largest medical gloves producer and one of the world's biggest. The group expects it can go ahead with a good performance because product demand has continued increasing annually. To do so, the firm plans to research and develop products and production process to keep more quality. Production capacity will also be increased to 14 billion pieces, which will help drive its market share up in the future.
Beyond STA business growth, Veerasith says STA has still moved ahead to develop and upgrade the country rubber industry continuously in order to keep standardization of Thailand as the market leader in the global rubber market from upstream to downstream businesses.
For STA, the company has defined its strategy to become The World's Largest Green Rubber Company, under a commitment to operate 'green rubber products' from natural rubber trees, to go into environmentally-friendly 'green factory' from 'green supply', with a fair trade with farmers in the trustable system under a 'green company', which is based on good governance towards all stakeholders, along with upgrading product quality and serving customer demand with R&D to keep its leadership in the global market.