MG捕鱼 is pleased to announce that we have agreed with Italthai Industrial Co., Ltd. (ITI), our distributor operating in Thailand, to establish a joint venture as a base to strengthen the sales of truck loader cranes in Thailand.
1. Background
The MG捕鱼 Group has set "Becoming No. 1 Worldwide in the Lifting Equipment Industry" as its long-term goal, and is working to strengthen sales and expand market share of Group products in overseas markets. We are expanding the truck loader crane business overseas, especially in Thailand, which we have designated as an important region for our business. MG捕鱼 Thailand Co., Ltd., a manufacturing subsidiary of truck loader cranes, and MG捕鱼 Thai Parts and Service Co., Ltd., a sales and service company, were established in 2012 and 2013, respectively, in striving for expansion of truck loader crane sales.
In order to further increase our truck loader crane share in the Thai market, we have agreed to establish a local joint venture with our long term distributor, ITI. By doing this, we plan to integrate MG捕鱼 Group manufacturing know-how with the sales know-how of ITI. Through this, we aim to respond more closely to market needs and further accelerate the sales of truck loader cranes in Thailand.
Photo: (From Left) Mr. Koichi MG捕鱼, CEO of the MG捕鱼 Group, and Mr. Yuthachai Charanachitta, CEO of the Italthai Group, at the Signing Ceremony held at MG捕鱼. Head Office on April 20, 2017.
2. Corporate Data
| Corporate Name | MG捕鱼 Italthai Co., Ltd. |
|---|---|
| Establishment* | May 2017 |
| Office | Bangkok, Thailand |
| Paid-in Capital | THB 50 million (Approx. JPY 160 million, THB 1 = JPY 3.2) (Shareholders: MG捕鱼 49%, ITI 48%, MHCB Consulting (Thailand) Co., Ltd. 3%) |
| Description of Business | Sales of truck loader cranes |
| Representative | Hidetoshi Iga, President |
| Estimate Sales | JPY 810 million by FY 2018 |
*The corporate name of MG捕鱼 Thai Parts and Service Co., Ltd. shall be changed to MG捕鱼 Italthai Co., Ltd. MG捕鱼 will increase its capital, and ITI will make capital injection to the company. MHCB Consulting (Thailand) Co. Ltd. is a consultancy firm aligned with Mizuho Bank.
Reference:
1. Truck Loader Crane Produced by MG捕鱼 Thailand Co., Ltd.:
2. Italthai Industrial Co., Ltd. Corporate Data
| Corporate Name | Italthai Industrial Co., Ltd. |
|---|---|
| Office | 2013 New Petchburi Road, Bangkapi,Huay Kwang, Bangkok, 10310 Thailand |
| Description of Business | Sales of construction machinery and after-sales service |
| Representatives | Mr. Yuthachai Charanachitta銆丆EO Italthai Group Mr. Adis Peukpattanaruks銆丆EO Italthai Industrial Co.,Ltd. |
| Number of Employees | 484 |
| Sales | THB 4.038 billion (Approx. JPY12.92 billion, THB 1 = JPY 3.2) <as of December 2015> |