YEAR ESTABLISHED: 1957
REVENUE: $300 million
• Architectural coatings
• Marine and protective coatings
• Wood coatings
Arsa Sarasin, honorary chairman; Prachak Tangkaravakoon, president; Motoo Horiguchi, senior executive VP; Rams Das Ahuja, executive VP.
TOA is the leading supplier of decorative coatings in Thailand with an estimated market share of 50 percent. The company manufactures products that cater to the mid-tier and premium-tier markets. The TOA Group of companies includes TOA Paint Thailand, which is TOA’s 100 percent Thai-owned main base of operation; TOA-Chugoku Paint, a JV between TOA Paint Thailand and Chugoku Marine Paint; TOA Union Paint Thailand, a JV company with Japanese-based wood coatings producer Union Paint; TOA Vietnam; Shanghai-TOA Paint; and TOA Paint Malaysia. In May 2016, it was announced that the company was considering an initial public offering of its paints and chemicals business. Bloomberg News reported that the company was working with banks on a possible share sale that could raise at least $400 million, and could take place as early as next year on the Thai stock exchange.