BT Wealth Industries (BTW), a leading Steel Fabricator, Plans to offer IPO in the 3rd quarter of this year Shows Strong Net Profits of 675 Million Baht in 2015

BT Wealth Industries Plc. or BTW, a leading steel parts and large module fabricator with 30-year experience, plans to offer IPO shares to expand its business and strengthen financial position.

Mr. Chotic Russamitinakornkul, Chief Executive Officer and a co-founder of BTW, reveals that “BTW’s main businesses performed by Best Tech & Engineering Ltd., its 99.50% owned core subsidiary, are steel parts fabrication and modularization for various industries such as energy, oil refinery, power and mining industries. There are a few fabricators in Thailand that have modularization capabilities and experiences. The company also specializes in designing and fabricating cooling water piping system for many power plants worldwide and domestically. With 30-year experience, BTW is recognized as one of the leading steel parts & large module fabricators in Thailand.”

Mr. Chotic adds that “The company’s core strengths are that we have fabrication workshops and yards within Sattahip commercial deep sea port, with total production area of 174,000 square meters and production capacity of 36,000 tons per year. With largest production area in the deep sea port, BTW can efficiently fabricate large-scale modules and transport them directly to shipping yard at the port. Some of large and successful module projects are, for example, Solomon Iron Ores Mine Project with contract value of 6,780 million Baht; Roy Hills Iron Ores Mine Project with contract value of 3,424 million Baht, both in Australia. The company also has another fabrication workshop in Chachoengsao to produce medium-size parts fabrication, such as fabrication works for Changi Water Reclamation Project in Singapore with 552 million Baht project value and cooling water piping design and fabrication for Bang Prakong 5 Power Plant project worth 94.6 million Baht. Both company’s workshops are awarded with full tax exemption privileges from the Board of Investment (BOI) for 8 years. In addition to its strategic workshop locations, BTW also has long-term extensive expertise and experience in many industries which provide the company with high operational flexibility as an advantage over its competitors in servicing clients in various industries. With its large client base, the company has enjoyed stable and continuous income over the years. For example, pressure vessel and storage tank fabrication works for power plants have regularly generated continuous revenue for BTW for long time, apart from the large module works.”

Mr. Chotic summarizes that “In 2015, BTW group has 1,949 million Baht revenue with 675 million Baht net profit, which increased from 475 million Baht net profit in 2014 with 2,742 million Baht revenue. The Company is preparing for listing on the mai Stock Exchange in order to improve our facilities at Sattahip commercial deep sea port as well as invest in additional machinery and equipment. This will help strengthening the company’s operation and supporting its continuous and sustainable growth.”

Mr. Tanachai Bunditvorapoom, Head of Investment Banking, TISCO Securities Co., Ltd., its financial advisor, adds that “BT Wealth Industries Plc. or BTW has outstanding track records with large client base in Thailand, Australia, Asian, American and European countries. The company works either directly with project owners or world-class EPC contractors. The company has capabilities to undertake large projects in the future by utilizing its experienced management with engineering expertise and extensive industry experiences as well as experienced engineers with strong project management skills to ensure on-time delivery and world-class quality of works. Another company’s strength is its high flexibility in servicing clients from various industries. Its ‘Operational Flexibility’ does not only reduce the risk in relying on certain industries but also enable the company to penetrate into other high-value industries. As a result, BTW has achieved excellent financial results and strong financial position. Listing on the mai Stock Exchange will provide the company more opportunities for international market expansion.”

As of March 31, 2016, BT Wealth Industries Plc. or BTW has registered capital of 378 million Baht. The company plans to initially offer to the public 156,000,000 newly issued shares with 0.50 Baht par value, accounting for 20.63% of total paid-up shares. After the IPO, its major shareholder group comprising Satawin and Russamitinakornkul families will hold 79.37% share while the public investors hold 20.63% share. TISCO Securities Co., Ltd. has been the company’s financial advisor for the transaction.