Thai Auto Tools Group, the Thai-owned auto-parts maker, will invest up to 1 billion baht this year to construct a new factory in Chon Buri and expand production of its existing plant.
Executive chairman Payung Sakdasawit said 800 million baht will go to constructing the new factory on 40 rai in Chon Buri, making mainly auto bodies and chassis parts for pick-up trucks.
Scheduled to start commercial operation in November, the new factory will employ 150-200 workers.
Annual production at the new factory, operated by the wholly owned subsidiary Thai Auto Tools (Eastern), is estimated at 6 million pieces next year, doubling to 12 million in 2015.
Mr Payung said the remaining 200 million baht is slated for raising production by 40-50% at its existing factory run by Thai Auto Tools (Pathum Thani). That plant makes moulds, dies and jigs.
The company already increased annual production of moulds to 200-220 sets, dies to 150 sets and jigs to 100-120 sets.
Thai Auto Tools operates four plants: Thai Auto Tools and Die and Thai Auto Tools (Pathum Thani) in Pathum Thani; and Thai Auto Tools (Chon Buri) and Thai Auto Tools (Eastern) in Chon Buri.
Mr Payung expects group revenue to total 2 billion baht this year, up by 29% from last year.
Revenue is projected to grow to 3 billion baht in 2015.
The group plans to list on the Stock Exchange of Thailand in 2015, and financial advisers have been appointed for a feasibility study of the listing, Mr Payung added.