Srithai eyes sales of B5bn

       Srithai Superware Plc, the SET-listed melamine tableware and plastics manufacturer, expects sales of 5.1 billion baht this year even though its first half performance was below target.
       President Sanan Angubolkul said sales of Srithai in the first half were 2.2 billion baht, up 5% from the same period last year. However, the sales missed the company's target of 2.55 billion baht because local consumers' purchasing power dropped by 20% as a result of the global downturn. Fortunately, Srithai could offset the impact of the local decline with its export business, which grew by 60%.
       Demand for plastic products in export markets has continued to increase in the second half, said Mr Sanan.
       "China has some problems with product quality, so several firms in Bangladesh and the Philippines have shifted to order big volumes of plastic bottle caps with Srithai recently," he said.
       Moreover, the company received new orders from the Sony Group to produce CD, VCD and DVD holders for Michael Jackson albums.
       With more orders, Srithai plans to spend 100 million baht to expand its production capacity of plastic products to accommodate the rising exports.
       Mr Sanan expects second-half sales of 2.9 billion baht.
       Apart from plastic products, the company will spend 21 million baht to open seven new Lock & Lock flagship outlets in 2009 to 2010, bringing the total to 10.
       Lock & Lock outlets are now at Seacon Square, Esplanade and Fashion Island.
       The company expects to gain about 200 million baht sales from Lock & Lock plastic containers next year, up from 120 million this year.
       Shares of Srithai (SITHAI) closed yesterday on the SET at 4.90 baht, down 4 satang, in trade worth 28,000 baht.