Bangkok Glass keen on revenue

Bangkok Glass Plc (BG) is optimistic its business will reach a revenue target of 30 billion baht by 2022, while projecting growth of more than 10% this year to 16 billion.

President Pavin Bhirom Bhakdi said BG has an ambitious expansion plan for 20182022 because it has seen better economic sentiment both domestically and overseas.

For 2018, BG set aside an initial investment of 7 billion baht. Some 1 billion baht is to be spent on robotics and automated manufacturing because of concerns about a labour shortage in the near future.

BG has combined production capacity for glass packaging of 3,735 tonnes per day from six plants in Pathum Thani, Rayong, Khon Kaen, Prachin Buri, Ayutthaya and the new location in Ratchaburi starting operation this year.

The company also has a new facility for float glass with a capacity of 219,000 tonnes a year, which started operations last year.

Mr Pavin said BG is focusing more on the renewables business, both in Thailand and Japan.

The company is interested in investing in solar rooftops and wind farms. BG has solar rooftop capacity of 4.5 megawatts in Ayutthaya province, and a wind farm in Japan.

“We expect to increase the capacity up to 10MW this year,” he said.

Moreover, BG plans to expand its building materials business such as gypsum for the construction sector. It wants to ship gypsum to neighbouring countries because their annual GDPs are rising.

Mr Pavin said the building materials market in Thailand is also growing in line with the government’s investment projects and private investment recovering.

BG is seeking joint venture or M&A opportunities with local and foreign companies.

“We have not disclosed a budget for these expansion plans,” he said. “We are studying the feasibility of listing our subsidiary BG Container Glass (BGC) on the bourse in 2018.”

Established in 1974, BG was granted promotional privileges from the Board of Investment with registered capital of 50 million baht. Since 1981, Boon Rawd Brewery Co has become BG’s major shareholder.

Last year, the company posted revenue of 12 billion baht.