Patkol Plc expects the 603-million population of the imminent Asean Economic Community (AEC) will help to drive its annual revenue to 10 billion baht by 2022.
Managing director Sangchai Chotchuangchatchaval yesterday said the company expected Asean's overall food industry would grow in line with growth in each member country.
The food-processing machinery provider and freezer specialist plans to focus on all 10 Asean members, he said.
Mr Sangchai said the huge market available following implementation of the AEC late this year would afford the company access to a greater pool of potential customers.
At present, 80% of company revenue comes from domestic sales and 20% from abroad.
However, that proportion is expected to change under the AEC.
"We expect the revenue shares of our domestic and foreign markets will be 50:50 after the next three to five years," Mr Sangchai said.
He said Patkol planned to build factories in Asean members to serve the expanding business after it already opened offices in the Philippines, Indonesia, Myanmar and Vietnam.
The company has also allocated 200 billion baht for factory expansion in Thailand.
"We plan to expand our production base in Asean," Mr Sangchai said.
"That will allow us to become a major regional machinery distributor, installer and training centre."
Last year, Patkol achieved combined revenue of 3 billion baht from domestic and foreign operations.
The company expects double-digit revenue growth this year due largely to rising food demand amid growing Asean economies.
Mr Sangchai named Myanmar as the most interesting Asean member. The country is the best example of a food and beverage industry growing in line with the economy, he said.
"Year-to-date in Myanmar, our sales revenue has already reached 100 million baht," Mr Sangchai said.
"And we expect sales to grow continuously throughout the year."
Patkol's major customers in Myanmar include Red Horse Dairy Industries Ltd.
Another is Thailand's Dutch Mill Co, which entered the neighbouring country only last October.