Bangkok--Nov 3--Siam PR. Consultant
Thainox Stainless Public Company Limited, manufacturer of stainless steel for domestic use and export, is confident in the trend of the industry as the company is preparing to seek listing on the Stock Exchange of Thailand (SET) this November. Apart from that, the company is also confident in its technological excellence, product quality, distribution network and team of professional management in bringing it to another level of success on the SET with TISCO Securities Co., Ltd. acting as financial advisor to oversee the floatation of not more than 3.4 billion shares.
Mr. Prayudh Mahagitsiri, Chairman of Thainox Stainless Public Company Limited, disclosed that his company is planning to seek listing on the SET with hopes to uplift the stainless steel industry as one of the country’s most pivotal industries. “The industry has been significantly expanding domestically and regionally in terms of growth with the trend promising a long term prosperity. We realize that this is a great opportunity for the Thai people to be part of ASEAN’s largest stainless steel producer, whose current production capacity reaches 200,000 tons a year.
“The company plans to raise the paid-up capital from 7.67 billion baht to 8 billion baht after listing on the stock market with 1 baht par value. The shares earmarked for the floatation will be offered to the general public. With high standard production and over 10 years of experience, the company’s manufacturing machinery are certified with various recognized international quality standards namely ISO 9001: 2000, ISO 9002: 2000, ISO 14001, OHSAS 18001 and ISO 17205. These are proofs of excellence for both local and international customers in Thailand’s only stainless steel maker and ASEAN’s leading producer. This is why Thainox Stainless has enjoyed continuous growth in sales from every corner of the world. In 2003, the company’s market share improved to 61% from 42% in 1997 and became the leader in the ASEAN region as in 2002, the company sold as much as 24% of the region’s total consumption — enough to be known as ASEAN’s dominant manufacturer,” Mr. Prayudh said.
Mr. Vanchai Manosuthi, Managing Director of TISCO Securities Co., Ltd., as the company’s financial advisor, said Tisco was confident in the potential as well as capability of Thainox Stainless — Thailand’s only manufacturer of stainless steel and the largest in the region. “With previous industrial growth, TISCO believes the trend for both local and international markets will be brighter. The quality and high standard production of stainless steel have made Thainox Stainless a leader in the domestic market with a domestic market share of 61% in 2003,” he said.
“Thailand’s stainless steel industry remains in the early stages with high growth trend. In the last 4 years, growth has been registered at 13.1% annually as measured through domestic consumption. The company’s sales in 2001, 2002 and 2003 were 8.4 billion baht, 9.8 billion baht and 12.25 billion baht respectively. This reflected an average growth of 20.6% annually. In addition, the per capita consumption of stainless steel in the Kingdom remains low at around 2.14 kg. This explains promising growth for both domestic and international markets in the future,” he said.
“In November, Thainox Stainless PLC will become listed on the SET. TISCO Securities is confident in Thainox Stainless as solid export hub for an industry that has grown steadily. It leads the ASEAN region in terms of export and in Thailand it is the only local production facility around. The company has impressive performances especially in the most recent 3 years. The company also has a policy to pay out 50% dividend of the profit after reserves,” he concluded.
For more information please contact:
Jatupon Siridech
Siam PR. Consultant Co., Ltd.
Tel. 0 2693 7835 — 8 ext. 40
Fax. 0 2693 6919-20
Click for photo release at www.thaipr.net End.