Mitr Phol Sugar explores overseas expansion

Thailand’s Mitr Phol Sugar Corp. is looking at investing overseas to expand its business. Currently, Mitr Phol has three major manufacturing businesses, including sugar, energy and particle board. The company is looking at Australia to make more investments in the sugar business. In 2010, Mitr Phol acquired a 19.9% stake in Australia’s third largest sugar producer Maryborough Sugar Factory (MSF). Company President Krisda Monthienvichienchai said the company would focus on merger and acquisition deals in Asia-Pacific. “The sugar cane harvest season in Australia is different from Thailand, China and Laos. Moreover, all millers are located in different geographical and climate zones. Thus, we can diversify risk from the impact of global warming,” Krisda said. In addition, the company is in talks with two leading chemical firms in Thailand about partnering in a lactide bioplastics project. Bioplastics is the production of plastics using bio-based compounds, rather than oil-based resources. Krisda indicated that the main objective of the bioplastics project is to add diversification to the company’s business. (March 7, 2011)