PRIVATE COMPANY; YEAR ESTABLISHED: 1957
REVENUE: $503 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. It derives 90 percent of its revenue from its home market.
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.
TOA recently announced plans to expand new three production plants in Indonesia and Myanmar, which are under construction, and in Cambodia, which is in project feasibility phase. All of these new three production plants are expected to commence their commercial operation in 2018, which will increase TOA production capacity from 88 million gallons annually (excluding TOA Skim Coat (Cambodia) Co., Ltd.) to 102.5 million gallons annually. TOA also expects to increase its market share in order to be the leader in the ASEAN paint markets.