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Thailand’s largest paint manufacturer, TOA Paint, is set to begin production in Cambodia before the end of the year, the company’s President, Pongcherd Jameekornkul, told the Bangkok Post last month.
Opening new factories in Cambodia and Indonesia, the firm is looking to expand its regional footprint in light of the upcoming ASEAN Economy Community due at the end of the year.
Last year, TOA earned more than US$506M and is expected to see its income increase by 12% to US$567M this year. Some US$494M is expected from the Thai market and another US$73M is expected from the ASEAN market, the Bangkok Post reported.
TOA also has plants in Thailand, Laos, Malaysia, Myanmar and Vietnam.
Vietnam contributed about 50-60% to TOA’s sale revenue in Asean, or about US$29.6M. TOA ranks third in the market after the local brand 4 Oranges and Dulux.
