Toyo-Thai Corporation Public Company Limited (TTCL),Thailand's first fully integrated and diversified engineering company, lives up to its motto, " joy of engineering and achievement" . TTCL provides a full range of innovative services, from integrated design and engineering to procurement of equipment and materials and construction services for turnkey projects, primarily for the petrochemical, chemical and petroleum industries.

TTCL is expanding rapidly both domestically and internationally, and is moving into new fields, including new energies. TTCL welcomes international investors and partners to join with the company as it pursues its ambitious growth plans.

First Thai company to match international counterparts

TTCL was converted to be a public company limited in 2008, and is widely regarded as the first Thai company in its field that can match its international counterparts in competencies and services. Mr. Hironobu Iriya, President & CEO, explains, " Our goal at Toyo-Thai is to become a leading international engineering company.  Our company's policy is our motto, " joy of engineering and achievement" .  We engineer and then achieve."

Outstanding track record

TTCL was founded in 1985 as a joint venture between Italian-Thai Development Pcl., one of Thailand's biggest contractors, and Toyo Engineering Corporation, a top international engineering enterprise based in Japan. Building on the synergies between these two highly successful companies, Toyo-Thai quickly carved out a niche in the Thai market.

TTCL has achieved an outstanding track record. Its net sales grew from Bt 3.27 billion in 2004 to Bt 9.50 billion in 2008 and TTCL now employs 1,200 people. TTCL's 2008 revenues totaled Bt 9.5 billion, a very impressive 115 percent increase over 2007 and the highest in the company's 23-year history.   TTCL generated Bt 8.7 billion in revenues over the nine-month period from January to September, 2008, an incredible rise of 165 percent over the same period in 2007.

The outlook for 2009 and beyond is very positive, although like other firms TTCL will have to cope with the current international economic crisis. Hironobu Iriya says, " We have projects secured in 2009 worth Bt 10 billion and projects secured in 2010 for Bt 5 billion.  For the years 2011 and 2012, petrochemical clients and investors are watching to see how the world market proceeds."

Future growth plans include IPO in the Stock Exchange of Thailand in 2009.

Never resting on its laurels, TTCL has proved its ability to adapt to market changes and to diversify its activities successfully. It recently established a new division to focus on alternative energies, and its planned IPO is designed to help fuel its ambitious growth plans.

As Hironobu Iriya explains, " Our main division is our proposals, projects and procurement division, followed by our engineering division.  Recently, we have added a new division, the energy development division, which specializes in investing in new types of energy, including bio-energy, bio-gas, bio-ethanol, and others.  This new energy development division is one of the reasons we have decided to have an IPO, which we are planning for 2009.  We have started to put our name out more now that we are a public company."

Opportunities for investors and partners

To achieve its goals, TTCL welcomes international partnerships and investors. Hironobu Iriya points out, " We are an engineering company and we do not need cash flow in order to build our projects, but we are currently looking to branch out into investments.  We need partners to work with us in these future investments, particularly for our new energy projects, including bio-gas, bio-ethanol, bio-diesel and other kinds of renewable energy."

TTCL is looking for partners who can not only provide new environmental technologies but who are also looking for opportunities to grow along with TTCL.  " We need environmental technology from partners to help us further save energy and reduce carbon emissions.  Of course our main clients are petrochemical companies but we are looking to expand into greener energy as well" , Hironobu Iriya says.

International expansion

TTCL has also been expanding internationally since 1997 and has completed projects in the United States, China, Vietnam and other locations. To enhance its regional presence, TTCL has established an engineering company in Vietnam, Toyo-Vietnam Corporation Limited, that is providing international-class engineering services in the fast-growing Vietnamese market. TTCL also recently announced that it would hire 100 more engineers in 2009 to handle its planned business expansion in the Middle East and North Africa.

TTCL's diverse services include feasibility studies, financing, design and engineering, procurement, construction, operation and maintenance. The company has completed projects for the petrochemicals, chemicals, petroleum, fertilizer and renewable energy sectors as well as power plants and utilities facilities. Investors and partners can benefit from TTCL's diverse activities, strong domestic presence and international reach.

US$ 570 million in petrochemicals projects for 2008-2010

TTCL has seven major petrochemical projects planned or underway with a combined value of Bt 18 billion (US$ 570 million) for the period 2008 to 2010. The company recently won two Engineering, Procurement Service and Construction Management (EPCM) contracts for the world's largest hydrogen peroxide plant from MTP HP JV (Thailand), a joint venture between Dow Chemical Company and Solvay S.A., and Solvay Peroxythai Limited, both in Map Ta Phut, Rayong, Thailand and scheduled to be operational in 2010.

TTCL also received a Letter of Intent for an EPCM project to build an epichlorohydrin plant for Solvay Biochemicals