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- Goal set to innovate new lubricant products to serve industry megatrend
- Ready to expand global customer base to create sustainable growth |
BANGKOK, Aug 31, 2023 - (ACN Newswire) - P.S.P. Specialties PCL (SET:PSP), one of the ASEAN region's leading integrated lubricant solution providers, first trading day on the Stock Exchange of Thailand (SET) on August 30th, with the goal to create innovative lubricant products with high profit margins and high potential growth to support the industry megatrend and to expand further in the overseas markets together with the improvement and further development of production efficiency and more effective operations to ensure sustainable growth.
 | | P.S.P. Specialties PCL (SET:PSP), one of the ASEAN region's leading integrated lubricant solution providers, is ready for the first trading day on the Stock Exchange of Thailand (SET) on August 30th. |
Mr. Sint Krongphanich, Chief Executive Officer of P.S.P. Specialties PCL, confirmed the first trading day on the Stock Exchange of Thailand (SET) was August 30th, with the symbol "PSP" in the "Industrial Materials & Machine" business sector, "Industrial" industry group. PSP is one of the leading integrated lubricants solution provider in ASEAN and the largest independent manufacturer in Thailand with the highest production capacity and market share in many product groups. The company also provides services that cover the supply chain of the lubricant industry together with international standard of laboratories to develop innovative products. The purpose is to support the megatrend of the growing industries and to focus on environmental stewardship. Currently, PSP is in the process of studying and researching lubricant and fluid related to EV car including transmission oil for electric vehicles (EV), coolant products for EV battery, lubricant and grease for electric vehicles and bio-transformer oil, as well as the development of lubricant products for the food industry, etc.
P.S.P. also focuses on cost management and efficient operations to reinforce the leadership of lubricant in the ASEAN region including the investment in improving the efficiency of the production process and automation to increase competitiveness to support the plan to expand the lubricant product markets globally. The goal is to increase the revenue proportion to 25 percent of total sales revenue by 2026.
Miss Veeraya Sriwattana, Head of Investment Banking Department, CGS-CIMB Securities (Thailand) Company Limited, as a joint underwriter, said PSP possesses a solid business fundamental as being the leader in lubricant industry with strong trust by multinational customers in various industries through providing one stop lubricant solution. The company plan to leverage its strong research and development capabilities to innovate new products with good profit margins and to capture the growth trend of the industries. The Company also has an efficient production management that promote the competitiveness, and satisfy customer needs to generate healthy growth.
Mr. Pongsak Phrukpaisal, Managing Director, Kasikorn Securities Public Company Limited, as a joint underwriter, said that PSP has strong potential growth from its strategic investments that integrate the entire supply chain which is able to gain the competitive advantage in all dimensions. This strategic plan is to create sustainable business growth and to focus on future businesses especially technology and innovation related, or the "New S-Curve", to enhance profitability and to create sustainable growth.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for P.S.P. Specialties PCL
For additional information, please contact:
Pipop (Top)
Tel: +66 81 929 8864
E-mail: pipop.k@mtmultimedia.com
Topic: Press release summary
Source: P.S.P. Specialties
Sectors: Daily News, Oil & Gas
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From the Asia Corporate News Network
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