PRIVATE COMPANY; YEAR ESTABLISHED: 1957
REVENUE: $530.6 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. It manufactures products that cater to the mid-tier and premium-tier markets. Architectural/decorative comprises 68.5 percent of its sales. The company has 5,047 employees and seven plants in Thailand, Vietnam, Indonesia, Malaysia, Myanmar, Lao and Cambodia.
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 an interview, TOA Venture Holding reported optimism – its 2020 revenue can increase to $400 million, by invested heavily both domestically and abroad.
Established in 2015, TOAVH is a wholly-owned subsidiary of TOA Group Holding with four units: industrial paint and auto parts; chemicals; automotive dealers; and property development, altogether comprising 15 companies.
President Nattavuth Tangkaravakoon said the projected revenue growth of 26.3 percent in 2020 will come from two units: industrial paint and automotive dealership.
For industrial paint, its subsidiary TOA-Chugoku Paints has earmarked $16 million to construct its first overseas paint factory in Myanmar.