Bangkok--Mar 16--SET
CPR Gomu Industrial Pcl., a producer of rubber and metal-bonded rubber parts, will be listed and commence trading on the mai (Market for Alternative Investment) to expand further and better serve the automotive industry. The Company has successfully raised THB115.5 mln. in its initial public offering (IPO) during March 2 — 4.
President of the mai, Mr. Vichate Tantiwanich, disclosed that the mai has approved the listing of CPR Gomu Industrial Pcl.’s common shares on the bourse. These securities will commence trading from March 17, 2005 onwards, using “CPR” as their trading symbol.
“We are glad to play a supportive role in the development of one of Thailand’s strategic industries. CPR Gomu Industrial is the only producer of tire parts in Thailand that receives technology transfer from Japan’s Nissan Group. This reflects its product quality and strong relationship with its customers. We thus believe that CPR Gomu will be another interesting business to take a look at on the mai. CPR is prepared to grow in line with the automotive industry in the future,” said Mr. Vichate.
CPR Gomu Industrial Pcl. (CPR) has THB199 mln. worth of paid-up capital (approx. USD 4.975 mln.). This is comprised of an existing 144 mln. shares plus 55 mln. shares in capital increase, with a par value of THB1.00 each. During March 2 — 4, CPR sold 50 mln. of its capital increase shares to the public and an additional 5 mln. shares to its directors, management, and employees at THB2.10 per share. Capital Nomura Securities Pcl. is the company’s financial advisor.
As for the THB115.5 mln. worth of funds raised, CPR will use it to expand its production line, thus better serving the growth of the automobile parts industry, and also invest in YULCHON Pipe (Thailand) Co., Ltd., a joint venture which specializes with its Korean partner in redrawing metal pipes. This joint venture will reduce its costs of producing metal-bonded rubber products. A part of the funds raised will be used as working capital.
CPR manufactures and distributes rubber and metal-bonded rubber parts to supply automobile and motorcycle manufacturers in both the domestic and overseas markets. The company primarily sells its products to Nissan Motor. CPR’s other customers include Yamaha, Suzuki, Ford, Mazda, Mitsubishi, and Tripetch Isuzu.
Presently the principal shareholders of CPR are the Wanichvisitgul Group, Mr. Ekkamol Gangaketul, and the Mujjalintrakool Group, who collectively hold 68.02% of the company’s paid-up capital after the IPO. In 2004, CPR recorded THB0.35 earnings per share.
For more information on CPR Gomu Industrial Pcl., please browse the company’s website at www.cprgomu.com, the mai’s website at www.mai.or.th, and SETTRADE.Com’s website at www.settrade.com
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.