|- Highlighting Potential as Thailand's Largest Packaging Manufacturers|
- Ready to be the Leader in ASEAN
BANGKOK, Oct 19, 2018 - (ACN Newswire) - BG Container Glass PCL (BGC) floats its shares today on the Securities Exchange of Thailand for its first trading session (18 Oct). The company's vision is to be the leading manufacturer and distributor of glass containers and quality packaging products in ASEAN while preparing to expand its market in Thailand and abroad. Its vision is backed by its new factory in Ratchaburi, which will be ready to begin commercial operations in November and is expected to increase production by 400 tons per day, raising the total production to 3,495 tons per day.
Mr. Silparat Watthanakasetr, Managing Director of BGC, said, "As Thailand's major producer, distributor, exporter and importer of glass containers, we are confident that investors will respond positively to this initial public offering (IPO). BGC has the vision to become the leading manufacturer and distributor of quality glass containers and packaging in ASEAN. It plans to expand sales throughout Thailand and exports to ASEAN countries such as Laos, Myanmar, and Vietnam as well as countries in other regions such as Switzerland, Spain and Australia."
Currently, BGC is the producer and distributor of glass packaging products with the largest production capacity in Thailand. Its new glass container plant and furnace in Ratchaburi will begin commercial operations in November 2018, which will increase production by 400 tons per day, boosting the total production to 3,495 tons per day. The new glass furnace has been designed to operate effectively at full capacity, and an online quality control system has been installed. Moreover, the new plant in Ratchaburi will be able to accommodate an additional furnace in the future in response to increasing consumer demands.
Meanwhile, the company's performance during the first six months (January-June 2018) has yielded a net profit of 270.1 million baht, an increase of 122 percent over the same period last year with a net profit of 121.7 million baht. This is due to a decline in production costs after completing the company's closed down Rayong production plant.
"BGC aims to be the leader in the production and distribution of high-quality glass packaging products across the ASEAN region. The new Ratchaburi facility will help fulfill the company's strategic operations in the future because the plant is situated at a strategic location as well as having a flexible production process that will allow the company to expand its client base and serve new markets," said Mr. Silparat.
Mr. Pongsak Phrukpaisal, deputy managing director of Kasikorn Securities Pcl., as financial advisor and lead underwriter of the company, says BGC is a company with a strong business foundation and has good potential for growth. As the manufacturer and distributor of glass packaging products with the largest production capacity in Thailand, BGC is in an advantageous position as it is able to keep the production cost per unit at a competitive level. Furthermore, the company has plants in several provinces, which enhances capital management, logistics and access to raw materials.
"BGC's glass packaging materials are widely used and such usage is expected to be increasing as we go forward because their products are environmentally friendly and 100% recyclable. As well, the glass packaging industry has only a few major producers and this is a business that requires high investment capital which poses obstacles to new entrants," Mr Pongsak says.
Distributed for BG Container Glass PCL
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Oct 19, 2018 16:00 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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