ICHI forms joint venture Tan Fertilizer, entering fertilizer business with 150 million baht capital

Kaohoon··TH·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Ichitan Group Public Company Limited, or ICHI, owned by Pasakorn Nathee, announced its expansion into the agricultural sector through a joint venture with the Aekyongwong Group Company Limited, a Thai fertilizer operator, to establish Tan Fertilizer Company Limited with registered capital of 150 million baht. ICHI holds 51% and the Aekyongwong Group holds 49%. The new company will target the Compound NPK fertilizer market, a premium segment in Thailand's chemical fertilizer market with a total value of over 80 billion baht, of which this premium segment is worth approximately 32 billion baht. It will start by taking over the premium fertilizer brand Rampatec, which the Aekyongwong Group has marketed for three years and which has latest sales of about 70 million baht per year. ICHI has set a revenue target for the first three years, from 2027 to 2029, of 1.5 billion baht, along with a market share target of 3-4%, amid competitors such as Mongkut brand fertilizer, Yara brand fertilizer, Hua Wua Khan Tai brand fertilizer, Kratai brand fertilizer, Ma Bin brand fertilizer, Ruea Bai Khai Muk brand fertilizer, and Nok Krachian brand fertilizer.

Impact on assets 1

Consumer Staples▲ · 1 stocks

Off-coverage companies 2

Tan Fertilizer Company LimitedPrivate▲ Positive
Capitalrelevance

Tan Fertilizer is established as the JV with 150 million baht registered capital, targeting 1.5 billion baht revenue by 2027-2029.

Ek Yong Wong Company LimitedPrivate▲ Positive
Capitalrelevance

Aekyongwong Group holds 49% of the new Tan Fertilizer JV and contributes its Rampatec premium fertilizer brand.

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