Bangkok--Nov 12--Siam PR Consultant
Eastern Wire announces that its sales performance for the third quarter of this year exceeds 283.78 million baht with profit soaring 12,700% to 110.5 million baht over the same period a year ago. The company also moves ahead in acquiring Eua Wittaya Equipment Co., Ltd. to strengthen its position and create integrated business operation.
Mr. Pirom Priyawat, Managing Director of Eastern Wire Public Company Limited or EWC, whose subsidiaries include Rayong Wire Industry Co., Ltd., leading manufacturer and distributor of high-tensile cable and wire used in the construction and automotive industries, disclosed that during the first 9 months of the year, the company achieved total sales worth 640.66 million baht, up tremendously from 410.75 million baht in the same period in 2003. Net profit for the first 3 quarters was 226.51 million baht or 3,516.72% growth. "Sales in the third quarter alone reached 283.78 million baht, generating net profit of 110.5 million baht, marking impressive growth of 12,710.41%. Impressive sales figures were a result of economic as well as industrial expansion with significant contribution from the growing property sector especially investment on the part of the government sector," he said.
As a holding company, EWC has a plan and a policy to invest in industries related to construction material in order to strengthen its operation and offer integrated products and services. "Investment in other industries remains possible following the trend and condition of the country's economic and social developments. This is to even out operating risks, while promoting revenue as we are taking into serious consideration the interest of those who stand to benefit," he said.
"As to promote such policy, EWC has decided to spend 112 million baht to buy into 37.96% stake in The Ua Withaya Equipment Co., Ltd. - producer and distributor of transmission line tower, telecommunication line tower, substation steel structures, galvanizing work and industrial equipments, from Bangkok Commercial Asset Management Company. The Ua Withaya Equipment has paid-up registered capital of 170 million baht, which is the amount after the new shareholding structure. The company enjoyed continuous growth and is expected to see better performance in 2004. Eua Wittaya Equipment has the potential for growth and profit making, which will apparently contribute to the performance of EWC," he concluded.
Eastern Wire Public Company Limited functions as a holding company, with an affiliated company being the Rayong Wire Industries Co., Ltd. (RWI), which engages in the business of manufacturing Prestressed Concrete Single Wire (PC-Wire), a product used for making piles (for foundation works), Electricity Poles, Steel-reinforced Concrete Floors, Prestressed Concrete Strands (PC-Strand), a product used on large construction projects, i.e., Bridge Beams, Large Piles, Tyre Bead Wire, a product used in the automobile industry and Welding Wire used in the welding industry. The company has a policy and plan to invest in lucrative industries pertaining to construction materials in order to strengthen its comprehensive operation, while looking to further invest in other lucrative businesses, whose potential coincides with the economic and social conditions, in order to even out the risks, apart from generating more revenues. Nevertheless, the management’s biggest concern is the return going to the company’s shareholders.
Marketing strategies used for every product manufactured by RWI are as follows;
1. Meeting the ISO 9001: 2000 Standard Certification, Industrial Standard Certification imposed by the Ministry of Industry and other internationally recognized standards namely ASTM, BS and AS to assure highest product quality.
2. Seeking new businesses.
3. Manufacturing and distributing variety of products, while remaining the sold manufacturer of Tyre Bead Wire in Thailand with over 10 years of experience.
4. Setting prices competitive to that of other producers in order to maintain customers and market share.
5. Concentrating on after-sales services with equipment testing and consulting in attempt to improve the operation for greater customer satisfaction in both products and services.
6. Increasing production capacity of Welding Wire through investment in new machinery
For more information please contact
Jidapa Pramualsub, Prakasit Nunpor
Siam PR Consultant Co., Ltd.
Tel. 0-2693-7835-8 ext32, 33, 0-1817-7153, 0-6339-0404
Fax 0-2276-8552, 0-2693-6920 End.