Thoresen Thai looks to fertilise growth outside shipping

Thoresen Thai looks to fertilise growth outside shipping

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts