THAILAND: Acrylic Company Invests Two Billion Baht
Thai Acrylic Fibre, the flagship company of India's Aditya Birla group, is sailing against the global tide with an investment of two billion baht in a new extension at its factory.
The money is to fund an increase in production capacity next year, with 100 employees to be added to the existing workforce of 443. Annual production capacity at the company's acrylic fibre plant in Sara Buri will increase by 30 per cent to 74,100 tons as a result.
The expansion is part of the group's five year business strategy to maintain its position in the acrylic fibre industry. Thai Acrylic Fibre supplies 2.5 per cent of global demand for acrylic fibre and anticipates that global demand will increase over the next two years.
Thai Acrylic Fibre sales reached 3.15bn baht last year, with the company showing a profit of 170 million baht. The Aditya Birla group's total turnover was approximately $7bn in 2000.
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