PDI restructures its businesses turning around into profit with the focus for sustainable growth and confirms its strong financial position with cash for new investment exceeding 2 billion baht

“Sadawut Taechaubol” – as a new leader of PDI announced to move forward to restructure the current businesses with primary focus on sustainable growth, and to sell assets from zinc business including factory land in Rayong. With PDI’s financial position and cash on hand of over 2 billion baht ready to be deployed for new investments, he is confident that the Company will achieve such goal

Mr.Sadawut Taechaubol, Executive Committee Chairman and Acting Managing Director of Padaeng Industry Public Company Limited (PDI) said PDI conducts its business based on professionalism, under his management from now on, he believes that he will lead the Company to a new era where business grows with stability and sustainability

“The Company is in process of improvement and restructuring business to boost up profit for the upcoming year of 2019. We will drive business forward with 3 main strategies: to concentrate on effective expenses reduction, to carefully screen its assets and sell those that are no longer useful and to continue its quest for investment in new projects with controllable risks and sustainable return, in and beyond Thailand. We will initially focus on renewable energy businesses”.

For PDI, the change from an era of zinc businesses to new businesses will require business restructuring to allow for diversification of risks from such new businesses. Initially, the Company will sell existing unused assets from zinc business including the factory land in Rayong province, which is currently under process and is expected to be completed by mid of 2019. The earning from such disposal will be allocated for new investments.

Regarding renewable energy business, the Company has solar power plants which are operating in Thailand and Japan with the total capacity 50 MW, generating satisfiable revenue to the Company. All PDI’s solar farms are under the power purchase agreement (PPA) with the contract term at least 20 years. PDI will improve its solar farms operation to enhance productivity. Furthermore, the Company is looking to increase its investment in energy sector to enhance the revenue and sustainable profit for the shareholders.

“It is the right time after we have the transition from zinc business to strengthen our operation in all aspects. With the said business restructuring plan, we are confident we will leverage the entireorganization to sustainable growth, coupled with robust financial status, having cash flow over 2 billion baht ready for investment, PDI will reach its targeted goals”.

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