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| Company's Profile |
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| Company's History |
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| Chairman's Message |
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| Board Of Directors |
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| Corporate Structure |
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| Corporate Milestones |
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| Corporate Governance |
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| Environment and Safety Policy |
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Chairman's Message
(extracted from Annual Report 2009-2010)
In the background of the difficult economic conditions and a hesitant recovery which continued to prevail during the year, particularly in the developed world and competitive markets, performance during the year under review is creditable and validates the Company’s strategy as well as its leadership position in key markets.
Sales at Baht 7.12 billion were 4% higher than the previous year. Profit after tax of Baht 1.04 billion was at the same level.
As you are aware, the Company has made significant investments in Turkey with the second line commissioned in May 2008. Operations have stabilized and should contribute substantially to growth and profitability.
Multiple manufacturing and distribution arrangements which provide ready and direct access to a large base of customers and enhance service capabilities have been critical to the Company’s success. An overlay of measures at downstream integration and diversification into related films would increase the product portfolio and build on the Company’s strength in manufacturing, sales and distribution. A plant for thermal lamination was started in April 2008 and a Cast Poly Propylene (CPP) film line (which is also used in flexible packaging similar to PET films) commenced in March 2010. A siliconizing line which will use PET film as an input is currently under implementation and should come on stream early next year.
A continued emphasis on technology up-gradation in the core business on PET films will improve productivity, contain costs and enable introduction of a slew of new products. Application development and a close working relationship with important customers in the converting business are critical to long term competitiveness and several initiatives have been taken in this regard.
There are structural changes which are happening in the PET film industry. No new capacities have been set up in North America and Europe for several years notwithstanding growth in demand which is expected to continue in future. Vacation of the traditional segments of the industry resulting from a focus on optical and photovoltaic applications has opened up an opportunity - especially for those who have a manufacturing and distribution facilities close to these markets.
Current market conditions are buoyant and the Company has initiated steps to build new capacities in PET films.
The Company remains confident about the future.
I conclude by thanking my colleagues on the Board for their continued support and guidance. Last but not the least I thank you all for your continued support.
Mr. Manu Leopairote
Chairman