Italthai Engineering announced 45% increase in revenue
Italthai Engineering announced 45% increase in revenue.
New S-Curve 2019 to generate target revenue of 6,100 MB.
Mr. Sakol Laosuwan, President & CEO, Italthai Engineering Company Limited (ITE), said “The company focuses primarily on large scale electricity generation and distribution system projects, renewable energy projects, MEP systems for high rise buildings, petrochemical infrastructure construction projects, as well as automated warehouses and factories that are now growing in Thailand. ITE’s services include general construction, and engineering, engineering design, project and construction management, operation and maintenance in accordance with ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007. ITE has also expanded its business to Myanmar under the name Italthai Engineering (Myanmar) Co., LTD. A wholly owned subsidiary catering to the Thai Investors exploring manufacturing and logistics opportunities, and other international investors who require experienced engineering contractors who can comply with international construction and engineering standards and deliver quality projects. The company expects to see a 45% increase in its revenue this year. The company current backlog includes over 45 projects with an approximate value of 11,000 Million THB, of which 5,889 Million THB in revenue will be recognized in 2018.
ITE’s strategies and business directions in 2019 will focus on exploring new business opportunities and business direction within the new S-Curve industries in line with the government’s Thailand 4.0 core industry plan. The New S-Curve will be an extension of its core business and will include smart grid systems, electrical and mechanical system and advanced automated solution for telecommunication and transportation industry, factories and infrastructure utilities for industrial estates in EEC, automated warehouse and smart factories and other projects involving automation and integrating smart solutions. Furthermore, the company also plans to expand its business to Cambodia and Lao PDR. ITE is expected to recognize an income of 6,100 Million THB in 2019, a 5% increase from 2018.”