Bangkok--Jul 21--Eason Paint
Confident in its potential targeting over 10% growth
Sanan Eksangkul, President of Eason Paint Public Company Limited, one of the business leaders in the industrial paints such as motorcycle coatings, plastic coatings, packaging coatings, offset inks and others, said that the company plans to make the initial public offering of its 60 million shares at the par value of 1 baht per share accounted for 30% of its 200 million baht registered capital. It is expected to commence its trading in the Stock Exchange of Thailand within 2005. Globlex Advisory Company Limited is acting as both Financial Advisor and lead under writer.
“The company projects over 10% sales growth within 2005. Current business expansion aims to support the growth of vehicle industry. The present customer base includes the paint related industries and the original equipment manufacturers (OEM) such as packaging industry and especially auto part industry, which has the accumulative growth rate during 1999-2004 over 20% in accordance with the overall paint industry with the estimated growth over 10% per annum during 2005-6”, said Sanan.
Sanan said the company has planned to expand its production capacity upon their sales projection especially customized & sophisticated products for special application. Most income is generated from high potential product lines such as plastic coating for auto interior such as the dashboard panel and front console as well as adding the production line for the coatings of the exterior auto parts by building the new factory at Amata Nakorn Industrial Estate in Cholburi province. The company is one of the largest paint manufacturers with 37% market share in motorcycle paint market, which the company determines to maintain as the market leader in the field. About 180-210 million baht of the proceeds from this fund raising activity will be allocated to support such projects and the rest will be used as short term loan repayment to the financial institutes and its working capital.
“We are confident in our business potential with over 40 years of experience in the paint industry. We are also operating in the industry with high growth potential product lines. At the same time, we have the complete offers of industrial paint products with customer base in the high growth potential businesses such as vehicle industry, electrical appliance industry, printing industry and packaging industry. Our core strength lies toward our cooperation in term of business and technology with the overseas leading paint manufacturers and patent owners such as BASF Coating Japan, the motorcycle and car coatings specialist, Origin Electric, the famous plastic coating manufacturer in Japan and development of our own know-how”, said Sanan.
As for the company performance, 70% of its revenue attributes to the sales of motorcycle coating and plastic coating for vehicle industry. The revenue in 2004 totaled 599.60 million baht up by 18.87% from 2003 with net profit of 59.66 million baht. During the first quarter of 2005, the company reported an income of 167.28 million baht increased by 9.75% compared to the same period in 2004 and posted the net profit of 19.31 million baht derived from its effort in maintaining the high product quality as required and accepted by the customers, the cooperation with its partners and continuous research and development.
Eason Paint Public Company Limited was incorporated in 1965 under the name of Si Esarn Product Company Limited by Eksangkul Family with long-term experience and vision in industrial paint production industry. At present, the company has been in operation for 40 years. It has co operated with the technology developers including BASF Coatings Japan, Origin Electric Japan and Miki (Japan) with domestic and overseas network of industrial paint users.
For more information, please contact
Lakana Khwan-ngam , Sujira Wirojana
PR Consultant
Tel.,01-822-2363,01-629-1821 End.