Thailand's leading producer of melamine and plastic tableware to open third factory in Hanoi, joining two existing facilities in HCMC, to meet projected growing demand.
The Srithai Superware Public Company Limited, Thailand’s leading producer of melamine and plastic tableware, plans to invest $44.5 million in expanding its business in India, Indonesia, and Vietnam, given the forecasted strong demand in these markets. It will invest about $14.8 million in establishing a third factory in Vietnam.
The new factory is located in Hanoi and is expected to start a test run with an annual capacity of 6,000 tonnes of plastic products in the fourth quarter of this year.
According to Mr. Sanan Angubolkul, Chairman and Director of Srithai Superware, the company will focus on expanding its scale through new factories in foreign countries and exporting more products to key target markets.
He also said that the company would concentrate on building up its manufacturing presence, largely via mergers and acquisitions (M&A), as such a strategy would enable it to generate income in the short run. “Income from the Vietnamese business is expected to exceed that generated in Thailand within the next ten years,” he was quoted as saying in the Thai newspaper The Nation.
Srithai Superware is known as the leading manufacturer of 100 per cent melamine tableware. The company has two factories producing plastic products and bottles in Ho Chi Minh City, with an annual capacity of about 20,000 tonnes.