Bangkok--Feb 1--Weber Shandwick
Sahamit Machinery Public Company Limited, Thailand’s full-service importer and distributor of tool steel for making all kinds of mould, machine tools, tooling and industrial machinery has planned to raise its capital by 300 million baht through an IPO.The funds raised will be used to construct a heat treatment plant and business expansion. Globlex Advisory is acting as the company’s financial advisor.
Mr. Chaisilp Tamesirichai, President of Sahamit Machinery Public Company Limited, said:” The company is filing an application for an Initial Public Offering (IPO) with the Stock Exchange Commission (SEC) in order to raise capital by 300 million baht. It anticipates the shares will be listed on the Stock Exchange of Thailand (SET) in the first quarter of 2005. The purpose of the IPO is to raise capital to build a heat treatment plant so we can serve clients’ needs in mould making industry, automobile industry, electronic appliances, and household utilities fields as well as to grow our overall business.”
“Sahamit Machinery was established over 30 years ago as an importer and distributor of pulp and paper. We have more than 2,000 clients. Currently, we are an importer and distributor of products and services in 6 categories, including special steel, machine tools, tooling, pulp and paper, machinery and equipment for wood processing, and electrical engineering.”
“The company’s financial performance has been improving over recent years. In 2003, the company earned total revenue of 1,267.14 million Baht, while net profit totalled 43.54 million Baht. For the first nine months of 2004, revenue amounted to 1,032.28 million baht, with a net profit of 99.91 million baht, up nearly 19.09% from the same period of the previous year.
Discussing the company’s business goals, Chaisilp said “Product import and distribution is our core business but we place very high emphasis on enhancing our client servicing — especially pre- and after-sale services, in order to add value to our products. For example, cutting, milling, grinding and drilling special steel with modern machines; cutting and resurfacing paper according to clients’ preferences; providing consultation on how to choose and equip a machine; and converting abrasive products .. We have a varieties of product and sufficient inventories especially special steel that allows us to provide fast delivery services. .In this way we can respond to the needs of our cleints particularly in the industrial sector, which has great potential for expansion.“
Note to editor:
Sahamit Machinery Public Company Limited was established in 1973.
Presently, Sahamit imports and distributes six categories of industrial materials, which are: (1) Special steel (2) Machine tools (3) Tooling (4) Pulp and paper (5) Machinery and equipment for wood processing (6) Electrical engineering, covering all Thailand’s major production sectors. Sahamit Machinery goal is to be the leading full-service importer and distributor of industrial products to Thailand’s high growth industrial sectors.
For more information, please contact:
Prangtip Sivaruk, Sahamit Machinery Public Company Limited
Tel: 02 295 1000 ext. 1515, E-mail: [email protected]
Tippawan Wortong/ Jensiree Esaparn
PR Consultant, Weber Shandwick Tel: 02 257-0300 ext. 334, 333,
E-mail: [email protected] / [email protected] End.