Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand) and Mr. Surapol Dararattanaroj, Director of C.A.S. Paper Co., Ltd. (CAS), a subsidiary of CAS Group, jointly signed an EXIM Thailand credit facility agreement worth 350 million baht at CAS Group Building, on June 27, 2023. The signing ceremony was witnessed by Mr. Amorn Dararattanaroj, Chief Executive Officer of Thai Nippon Rubber Plc., and Miss Sirinan Dararattanaroj, Director of Siam Tree Development Co., Ltd. The credit facility is extended to finance the Company's working capital needs for its fully integrated paper and packaging business operations and enhancement of its manufacturing capabilities for eco-friendly products to a greater extent as well as waste reduction during the manufacturing process, in order to accommodate its business expansion both domestically and overseas, particularly into New Frontiers including the CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) markets.
EXIM Thailand President said that the revolving credit facility aligns with EXIM Thailand's commitment to transforming into a Green Development Bank, supporting Thai entrepreneurs in developing their production processes under the Bio-Circular-Green (BCG) economy model and boosting their potential for exporting to promising new markets. The financial support from EXIM Thailand to CAS Group, which originally started as an integrated printing business called Charoen Axsorn Co., Ltd., will boost the Group's capabilities and enable the expansion of its paper and packaging production capacity. CAS Group has diversified its business from exporting wood chips for paper pulp production and is now a significant Thai exporter that prioritizes community and environmental concerns. By composting wood bark to achieve zero waste and establishing demonstration plots to share knowledge with nearby communities, CAS Group aims to meet the increasing demand for paper and packaging from manufacturing and service sectors both domestically and internationally on a larger scale.
"EXIM Thailand is fully equipped to provide comprehensive support to entrepreneurs across various industries and scales, enabling them to seize upcoming opportunities and meet the global trade standards in the new era under the Bank's new stance to take 'One Step Ahead for All Development' with determination to drive organizational and social development, fostering sustainable growth in economic, social and environmental aspects," added Dr. Rak.