Bangkok: Thai shipping company Thoresen Thai Agencies is considering enlarging its investment in fertiliser factories this year as part of its business expansion plans. The company is looking at Africa and Asia as priority markets.
“We are looking for growth, not just organic, outside Thailand by acquiring more potential interests in fertiliser factories. Now, we are in talks for two merger and acquisition deals,” said Chalermchai Mahagitsiri, president of Thoresen Thai Agencies.
Currently shipping contributes one third of Thoresen Thai’s revenue, about 40% comes via Mermaid Maritime, and the remaining comes from the fertiliser business.
“There is still a lot of room for growth in the fertiliser business, especially in agricultural-oriented countries,” said Chalermchai, adding that the company would use proceeds from selling shares of PM Thoresen Asia Holdings to fund the deals.
PM Thoresen Asia Holdings is in the process of listing its shares on the Stock Exchange of Thailand and subscription for IPO shares is starting from March 30 to April 3.