AAPICO Hitech Public Co., Ltd. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(in million THB)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of change (%) Factors
Sales 15,627 16,120


-Even though car dealership businesses posted a solid growth, sales in automotive parts business declined mainly in pressed and stamped parts, followed by plastics parts and forged parts in Thailand.
Net Profit 634 927 (31.6) -

Joint Ventures

-In 2013, the Company established a new joint venture called Edscha AAPICO Automotive Co., Ltd. with Edscha Holding GmbH. The new company will manufacture hinge systems, parking brakes and foot controls. It will supply especially to Japanese automakers' facilities in Southeast Asia.

-The Company  has signed an agreement with Portugal-based Sodecia to form a 50-50 joint venture in Thailand. The new company, which will be invested THB 500 million (USD 16.6 million) by AAPICO, plans to build a manufacturing plant in the Eastern Seaboard area, producing chassis cradles for passenger cars, car cross beams and welded assemblies for BIW (Body in White). Construction of the new factory will take at least two years. Sodecia is an automotive supplier, which develops and produces chassis cradles, powertrain and body in white assemblies. (From a press release on May 21, 2013)

-The Company announced the formation of a new joint venture company with Sumino Kogyo Co., Ltd., a Japanese Hiroshima-based Mazda supplier, to manufacture and sell precision press welding parts of cars for original equipment manufacturers in Thailand. The new company will be called SUMINO AAPICO (Thailand) Co., Ltd., with shareholding structure of 51 percent and 49 percent for Sumino and the Company respectively. Total investment is expected around THB 600 million (approximately USD 20 million) and the factory will be located at Amata Nakorn Industrial Estate. The new joint venture company will fully operate in the beginning of 2014. Sumino is currently producing 3,000 different precision metal stamping parts mainly for Mazda, Sumitomo Wiring Systems., Ltd., and JTEKT Corporation. (From a press release on March 29, 2013)

-The Company has formed a joint venture company in Thailand with Taiwan-based Lemtech Holdings Co., Ltd. The issued share capital of this new JV company, AAPICO Lemtech (Thailand) Co. Ltd, is THB 40 million, approximately USD 1.3 million, with AAPICO Hitech and Lemtech having 60:40 shareholdings respectively. The JV company will be principally engaged in the development, manufacture, assembly, sales of automotive, electronic and computer parts in Thailand and overseas. The factory for these products will be established soon in the Rojana Industrial Park in Ayutthaya province. The factory will provide new employment for up to 50 workers and engineers. Lemtech designs, manufactures and distributes precision metal stamping components and hardware molds. The company develops metals for consumer electronics, auto parts, and building materials. (From a press release on January 28, 2013)


-In 2013, the Company has delivered connecting rods to Shanghai General Motors.

-In 2013, the Company acquired some projects with following OEM manufacturers:
  • Mitsubishi Motors "Attarge", "Mirage"
  • Hyundai Motors "H1", "Tucson"
  • Proton "Preve"


-Major awards in 2013 are as follows:
Received Company Award Awarding Company
AAPICO Amata Co., Ltd. Best Cost Reduction Initiative award American Axle & Manufacturing (Thailand) Co., Ltd.
AAPICO Amata Co., Ltd. The Best in Quality award Isuzu Motors (Thailand) Co., Ltd.
AAPICO Plastics PLC. GM Supplier Quality Excellence award General Motors (Thailand) Co., Ltd.

Investment Activities

Capital Expenditures

(in million THB)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Overall 6,674 6,541 6,578

Investment in Thailand

-In 2014, the Company is going to supply components for new models of Nissan, Mazda, Honda and GM. Some of OEM customers, such as Toyota and Ford, have announced a volume increase for several current projects. Through execution of the automation and the increasing investment in new technologies, the Company expands the production capacity for the start of production of the new models launched in 2015 and current projects.