Thailand's TCP Group targets to triple sales to US$3 billion in five years

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Mr. Saravoot Yoovidhya, Chief Executive Officer, TCP Group, said, "What we manufacture in Thailand goes into more than 10 billion cans of beverages consumed in more than 170 countries around the world.  We will invest US$300 million as part of a five-year programme to strengthen our group's capabilities.  As an owner of the world's first truly global Thai brand, Red Bull, we carry the Thai flag on the world stage.  The size of our investment reflects the seriousness of our commitment to make TCP Group an enterprise that can bring honour to Thailand in the global arena."

He said, "The investment programme is comprised of three main initiatives; namely, strengthening our management and staff capabilities, expanding and enhancing our manufacturing capacity and R&D capabilities, and growing our on-the-ground presence in other countries.  Our new corporate identity, which we are also proudly unveiling today, represents the excitement with which our group looks to the future."

Mr. Saravoot said, "We are enrolling the finest managerial talent and creating a high performance culture that blends Thai culture with the best of global practices.  Many of our leadership team have learnt global best practices as senior executives in multinational fast-moving-consumer-goods companies and they are now applying their skills to building a Thai company and Thai brands.  Their skills, combined with the exceptional track-record of our long-standing leaders, will further strengthen our organisation."

TCP Group has total production capacity of over one billion (1,000 million) litres per year with plants in Thailand, Indonesia, Vietnam, and China.

Mr. Saravoot said, "In the next five years, we will open at least one new office or plant in a country, every year.  We aim to make TCP Group a powerful 'house of brands', and having a local office in other countries helps the group better understand the needs, habits, and preferences of local consumers and to develop products that can even better meet their particular needs."

"It's in our DNA to invest for the long-term and try what's never been done before, whether it be in product formulation or marketing or in terms of business models," he added.

"We have a truly extraordinary opportunity to put a Thai company on the global map and we believe the time is now to make this major investment and leap to the future," Mr. Saravoot said.

TCP Group is comprised of T.C. Pharmaceutical Industries Co., Ltd., which is the primary manufacturer of group products, The Red Bull Beverage Co., Ltd., which handles marketing and sales of group products, T.G. Vending and Showcase Industries Co., Ltd., which owns and operates vending machines for group and other products, and Durbell Co., Ltd., which distributes group products as well as other brands.

Consolidated TCP Group sales is forecast to reach US$900 million for the full year ending 31 December 2017, with around US$600 million in exports.

Bangkok Public Relations Ltd.: P.Pachanapreeda +662-664-9500 ext114

SOURCE TCP Group