P&G to invest US$ 150 million in Thailand mega-plant

Bangkok--Apr 29--P&G Procter & Gamble Manufacturing (Thailand) Ltd., (P&G Thailand), a leading consumer packaged goods manufacturer and marketer, today announced its decision to commence investing US$ 150 million (approx Bht 5,700 million) in Thailand to establish “one of the largest manufacturing and export centres on earth for ‘liquids’ products, including such personal care items as shampoos, conditioners and skin care creams and lotions”. The facility will be integrated into P&G’s existing plant, which occupies a 60 rai site at Wellgrow Industrial Estate, and will propel P&G’s exports from Thailand to exceed Bht 20,000 million, annually, within 2007. At the same time, P&G will make its Bangkok office into a major regional management centre with responsibilities across ASEAN, Australasia and India. In a joint press conference held with the Office of the Board of Investment (BOI), Mr. John E. Pepper, Chairman of P&G worldwide, said through a televised speech that “despite the Asian economic crisis P&G’s confidence in the future of Thailand remains unchanged”. He said that “the commitment of the Thai government to a free and open economy”, and the “energy of the people within P&G Thailand”, were major considerations in selecting Thailand to become one of P&G’s three largest liquids export manufacturing centres in the world. During his speech Mr. Pepper recognised the “critical role played by the BOI under the leadership of its Secretary-General Khun Staporn Kavitanon in influencing P&G’s decision to select Thailand for the establishment of this global facility”. Khun Staporn Kavitanon, Secretary-General of the BOI, disclosed that the BOI decided to support the export of liquid body care products because of “the extraordinarily high export potential this category offers”. He said that he expected to see a 10-fold increase in the value of liquids exports from Thailand within seven years. With regard to P&G’s plans, Khun Staporn said that he was particularly pleased that P&G’s new facilities “will allow Thailand to penetrate world markets in these categories by manufacturing liquid products to the world’s highest hygiene and quality standards”. Mr. Ravi Chaturvedi, Managing Director of P&G Thailand said that the new project was in line with the company’s policy to support the economic recovery by bringing in fresh capital, boosting exports, and continuing to generate employment and developing human resources. He said that based on a P&G analysis, more than 2,000 additional jobs are likely to be created by the new investment. “Because of the enormous size of this project, we anticipate expansion and possible relocation to Thailand among our major suppliers, resulting in not only more jobs but as much as another US$ 200 million (approx, Bht 7,600 million) in additional foreign investments in such support industries as packaging and chemicals.” According to Mr. Wade D. Miquelon, Chief Financial Officer of P&G Thailand, a tax analysis of the new project shows that within eight years the additional revenue generated for the government from P&G’s and suppliers’ sales taxes, personal income taxes and corporate income taxes could reach over Bht 622 million per year. Mr. Miquelon also said that within only three years “P&G is targeting to quadruple annual export sales to exceed Bht 12,000 million”. He said that BOI support “has made it possible for P&G Thailand to move to the forefront of liquids manufacturing technology and become a competitive supplier of liquid products not only to Asia, but potentially anywhere else in the world”. P&G Thailand’s sales for its fiscal year ending 30 June 1998 were Bht 7,700 million. Globally, P&G manufactures and markets products in over 140 countries in laundry, cleaning, paper, beauty care, health care, and food and beverage categories. Its sales for the last fiscal year ending 30 June 1998 were US$37,154 million (approx Bht 1,411,852 million). P&G has on-the-ground operations in over 70 countries and employs more than 110,000 people worldwide. It is one of America's top 20 largest companies. For further information please contact: Bangkok Public Relations, Hasan Basar, tel: 652 1946-7, fax: 652 1948. End.

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