Lotte Invests 1 Billion Baht On New Production Plant In Thailand
Business Press Releases Thursday July 18, 2013
Bangkok–18 Jul–PolyPlus PR
Thai Lotte Co., Ltd., has opened a new manufacturing plant with an investment of Bt 1 billion to expand its market and decided to establish Thailand as its hub to export its products to ASEAN countries and support the upcoming of the ASEAN Economic Community (AEC) in 2015 after its parent company sees strong growth potential of Thailand.
Mr. Toshifumi Kojima, managing director of Thai Lotte Co., Ltd, the manufacturer and distributor of chewing gum and confectionery products branded “Lotte”, and biscuits branded “Lotte Koala’s March”, said the company has established another factory covering 60 rai of land at Amata Nakorn Industrial Estate, Chonburi province, with an investment of more than Bt 1 billion. The new plant adds production capacity of 2,400 tons per year in addition to its current capacity of 3,000 tons per year. The higher production capacity will better serve the market demand and prepare its Thailand’s manufacturing bases to export more products to the Southeast Asian countries and prepare for new lines of production in the future in addition to welcoming the AEC in 2015″
“A major factor for our parent company in Japan or Lotte Co., Ltd., decided to establish Thailand as its production base because of the growth potential of the country. Thailand is well-equipped in terms of human resource, advanced technology, exporting capacity, and infrastructures to fully support our expansion plans. Thailand is also our largest market as well. Following the strengths, we are confident that the country will serve as the center of exports to the Southeast Asian markets. We have also come up with a plan to distribute our products from Thailand to other markets around the world”
He added that this year the company plans to focus on a 360 degree marketing strategy in terms of above the line, below the line, and online media channels as well as new media. More than Bt 90 million is budged for marketing. The company forecasts to earn Bt 1.5 billion in revenues this year compared to Bt 1.2 billion last year.
Presently, Thai Lotte Co., Ltd. operates two manufacturing plants: The first for producing “Lotte” chewing gum and confectionery products, located at Sriracha Industrial Estate, Chonburi province and the second for producing biscuits branded “Lotte Koala March”, located at Amata Nakorn Industrial Estate, Chonburi province.