?THE UNION MOSAIC INDUSTRY PUBLIC COMPANY LIMITED (UMI)? successfully restructures the debt of its subsidiary," T.T.CERAMIC PUBLIC COMPANY LIMITED (TTC)". The UMI board has approved a loan plan to lend TTC 190 million baht to repay the debt, moving forward to build financial stability, increase business expansion opportunities, and future profitability. Management is gearing up to implement sales and product development plans, preparing to expand the porcelain tile portfolio and large-sized product market, with TTC as the production base. This move responds to the gradually recovering real estate industry with sales expectation in the second half of the year to grow more than the first half, while maintaining sustainable profitability in the future.
Miss Paweena Laowiwatwong, Chairman of the Executive Committee of UMI, a leading manufacturer and distributor of floor, wall and porcelain tiles in Thailand under Duragres and Cergres brands, revealed that the business focus for the year was on growth and the debt restructuring of TTC operates in the manufacturing and distribution of Porcelain Tiles, TTC subsidiary in which UMI held 83.35% of the shares. As a result, there is no need to record extra expenses, and the company can proceed with long-term investment plans to increase production efficiency, creating opportunities for increasing profitability.
In the first half of 2024, UMI's performance has improved, with a profit of 10.35 million baht. Revenue from product sales was 1,302 million baht, showing a slight decrease, but the company expects to return to a level close to the previous year by year-end. The goal for both companies is set at 3,000 million baht, with a greater focus on marketing and sales strategies. Additionally, they plan to expand their porcelain tile portfolio and introduce larger-sized products to meet growing market demand, using TTC as the production base. Plans also include increasing organizational efficiency by integrating management between the two companies, which will reduce administrative and production costs, source alternative energy like solar roofs, and boost production capacity to support an expanding customer base. Currently, UMI Group is focusing on establishing a strategic framework for sustainable growth to align with the changing world, aiming for green industry practices and achieving Carbon Neutral by 2050.