Italthai Industrial Co (ITI), a distributor of heavy machinery, expects to benefit from the economic recovery, projecting a value for construction and agriculture industry of 18 billion baht this year.
The company, a subsidiary of Italthai Group, one of Thailand's oldest construction and hospitality companies, sell machines such as wheel loaders and mini-medium excavators to construction firms and customers using them for agricultural purposes.
Yuthachai Charanachitta, chief executive of ITI, said he expects entrepreneurs to resume their backlog projects after the government relaxed lockdown measures imposed to contain the spread of Covid-19.
"We believe the economy is recov- ering, boosting industries related to construction and agriculture, though some mega-projects remain sluggish," he said.
When the economy is restored, entrepreneurs can afford to buy necessary machines, said Mr Yuthachai.
ITI is upbeat about the local heavy machinery market after it grew by 25% in the first quarter year-on-year.
To expand its business, the company and Shandong Lingong Construction Machinery Co (SDLG), one of three major manufacturers of construction machines in China, recently co-launched SDLG large-sized 20-21 tonne excavators.
The machines should increase sales opportunities, said Skon Sriwannawit, managing director of ITI.
"Mini-medium excavators and 20-tonne excavators make up 50% of heavy machinery products in the Thai market," he said.
ITI expects sales of SDLG excavators to reach its target of 200 units this year, generating more than 600 million baht.
Shi Dong, SDLG's vice-general manager for import and export, said Thailand is a big industrial market and has potential to grow further.
ITI offers comprehensive heavy machinery solutions and after-sales services through 15 branches covering many provinces across Thailand, including Chiang Mai, Chon Buri, Ayutthaya, Khon Kaen and Surat Thani.
