Thailand’s CWT enters into JV for automotive seat cover manufacturing plant in Cambodia

Automobile leather manufacturing, visual from CWT website

Thailand’s leading manufacturer of leather-finished products Chai Wattana Tannery Group (CWT) has entered into a joint venture with its partners to set up an automotive seat cover manufacturing plant in Cambodia.

The plant requires the investment of 250 million baht ($7.35 million).

CWT, which will take charge of production and quality control, will provide 25 per cent of total investment and the remaining 75 per cent stake held by NHK Thailand, Toyota Tsusho and Koiwa Bond.

CWT’s managing director Weerapon Chaiteerath said that this investment would serve the growth of automotive industry in Thailand and overseas.

“The plant is located in Sanco SEZ Industrial Estate, which is only six kilometers from the border between Thailand and Cambodia. Therefore, it is very convenient to transfer goods to Thailand, while the production cost in Cambodia is much cheaper,” he said.

The plant construction is scheduled to be completed by the early 2016 and it will commence operation in the mid of the same year. The company has not disclosed the production capacity in the early stage, but plans to expand the capacity continuously to hit its target of at least one million units by 2019.

Meanwhile, CWT’s shareholders have approved the company’s plan to co-invest in Thailand’s first waste-to-energy plant with Zero Waste Co Ltd and Lawi Engineering (Thailand) Co Ltd. This 10-megawatt power plant will require the investment of 1.469 billion baht.

Weerapon added that this would be its first step to diversify into the renewable energy business, which would create sustainable income for the company in the long term.

Related stories:

Thailand’s CWT, Zero Waste, Lawi Engineering form JV for renewable energy biz

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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