Thailand’s largest paint manufacturer, TOA Paint, is set to begin production in Cambodia before the end of the year, the company’s president said this week.
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, Pongcherd Jameekornkul, president of TOA Paint Thailand, told the Bangkok Post.
Last year, TOA earned more than $506 million and is expected to see its income increase by 12 per cent to $567 million this year. Some $494 million is expected from the Thai market and another $73 million is expected from the ASEAN market, the Bangkok Post reported.
TOA also has plants in Thailand, Laos, Malaysia, Myanmar and Vietnam.
Neang Saron, head of Administration and Human Resource at local paint manufacturer CAM Paint, said yesterday competition is inevitable, but recent sales growth at CAM Paint held the firm in good stead.
“Considering CAM Paint’s position in the market now, I think it will not be so much of an impact. The majority of Cambodians have gained trust in CAM Paint,” he said.