Company History and Development

1964-1977
1979-1998
2001
2004-2007
2010
2011
2013
2014
2016
2017
1964 - 1977

Business Startup


1964 : Commencement of Business

Tangkaravakoon family business began importing TOA paint from Japan.

1972 : Established the First Production Plant in Samrong

The first production plant in Samrong was built by the Tangkaravakoon family to manufacture various products using know-how technology from Japan.

1974 : Shifting from Medium to Economy Decorative Products to Premium Decorative Products

The Tangkaravakoon family commenced shifting the focus of the business from being a producer and distributor of medium to economy decorative products to premium decorative products. This transition process continued throughout the mid-1970s to 1980.

1977 : First paint manufacturer to successfully introduce emulsion paint with lead, mercury and heavy metal-free formulations in Thailand

TOA was incorporated and we were the first paint manufacturer to successfully introduce emulsion paint with lead, mercury and heavy metal-free formulations in Thailand.

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1979 - 1998

No.1 of Color’s Business


1979 : Launched SuperShield Brand

We were the first paint manufacturer in Thailand and Southeast Asia to successfully replace the less durable polyvinyl acetate (“PVAc”) paint with 100% pure acrylic paint using technology from the United States that we marketed under our “SuperShield” brand.

1989 : Established the Production Plant in Bangna

We built the Bangna Plant, our second production plant in Bangna-Trad KM. 23.

1995 : Established TOA Paint (Vietnam) Co., Ltd.

We established TOA Paint (Vietnam) Co., Ltd. and expanded our production base to Vietnam by commencing construction of a production plant.

1998 : Vietnam Plant Commenced Operations

Our first production plant located at Tan Dinh Industrial Park in Vietnam commenced operations.

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2001

TOA Color World Solution Services


We established our TOA Color World program and started providing TOA Color World Solution Services using our Auto Tinting Machines.

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2004 - 2007

Established TOA Paint in Malaysia and Laos


2004 : Commencement of Business in Malaysia

We established TOA Paint Products Sdn. Bhd. and TOA Coating Products Sdn. Bhd. in Malaysia.

2005 : Acquired All of The Shares in British Paints Co., Ltd.

We acquired all of the shares in British Paints Co., Ltd. from the previous group of shareholders.

2006 : Relocated Production Plant in Vietnam

We shifted our production in Vietnam from our previous production plant located at Tan Dinh Industrial Park to a new larger production plant, with semi-automated production systems, located at Tan Don Hiep A Industrial Park in Vietnam.

2007 : Established TOA Paint (Laos) Co., Ltd.

We established TOA Paint (Laos) Co., Ltd., a wholly owned subsidiary.

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2010

Established Captain Coating Co., Ltd. in Thailand


We established Captain Coating Co., Ltd. (formerly known as TOA Business Support Co., Ltd.) in Thailand. We also expanded our production by commencing production of water-based paints at our Bangna Plant using semi-automated processes. Our Bangna Plant was the first production plant in Southeast Asia to automate the production process of water-based paints.

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2011

Established Professional PC Service Co., Ltd. in Thailand


We established Professional PC Service Co., Ltd. in Thailand and PT TOA Paint Indonesia in Indonesia, a joint venture with Desiree Group Limited (however, in 2016, Desiree Group Limited transferred its entire shareholding to PT Budilestari Sentosa, which became PT TOA Paint Indonesia’s joint venture partner).

2013

Ultra Low VOCs Technology


We developed a non-toxic colorant paint mixer product that had a VOC level 10 times lower than other then-existing paint products (“Ultra Low VOCs Technology”).

We established TOA Paint (Myanmar) Company Limited in Myanmar, a joint venture with Mantakanok Co., Ltd., MK Co., Ltd. and Ms. Thet Thet Nu Aung.

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2014

Established Imagica Co., Ltd. in Thailand


We established Imagica Co., Ltd. in Thailand.

2016

Established TOA Paint in Myanmar and Cambodia


We completed our Corporate Reorganization.

In March, we announced our plans to set up one new production plant in Indonesia, two production plants in Cambodia, and to relocate our Yangon Plant to the Thilawa Special Economic Zone of Myanmar.

We established TOA Coating (Myanmar) Co., Ltd. for the purpose of relocating our Yangon Plant to a new production plant located in the Thilawa Special Economic Zone of Myanmar, a location that has better infrastructure and enables us to benefit from special incentives from the Myanmar government.

We established TOA Paint (Cambodia) Co., Ltd. and PT TOA Coating Indonesia for the purpose of expanding production, sales and marketing of our products in Cambodia and Indonesia, respectively

We also established TOA Skim Coat (Cambodia) Co., Ltd., a joint venture with Mr. Sok Hout for the purpose of producing skim coat products and expanding the sales of our products in Cambodia. Mr. Sok Hout has been one of our key customers for approximately 10 years and has also been a distributor of auto refinish products, surface care products, rubber adhesive products, and household electric appliances in Cambodia for over 20 years.

We completed construction of our production plant owned by TOA Skim Coat (Cambodia) Co., Ltd., our first production plant in Cambodia.

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2017

Registered the Conversion to a Public Limited Company


At our annual general meeting of shareholders held on March 14, 2017, our shareholders passed a resolution approving the increase of our registered capital by THB875.0 million, resulting in an increase in our registered capital from THB900.0 million to THB1,775.0 million, by the issue of 875,000 new ordinary shares with a par value of THB1,000.0 to be offered to our existing shareholders.

At our Extraordinary General Meeting of Shareholders No. 1/2017 held on March 24, 2017, the following resolutions were passed:

  • approving our conversion from a private company to a public limited company, and changing our name to TOA Paint (Thailand) Public Company Limited. We registered the conversion to a public limited company on March 24, 2017;
  • changing the par value of our ordinary shares from THB1,000.0 to THB1.0, resulting in an increase in the total number of our ordinary shares from 1,775,000 shares to 1,775,000,000 shares
  • increasing our registered capital by THB254.0 million, resulting in an increase in our registered capital from THB1,775.0 million to THB2,029 million, by the issue of 254,000,000 new ordinary shares with a par value of THB1.0 for the initial public offering; and
  • acknowledging the offer by Wybrant Holding Limited, our shareholder, to sell our shares in a concurrent Secondary Offering as part of the Combined Offering.

We completed construction of our production plant owned by TOA Skim Coat (Cambodia) Co., Ltd., our first production plant in Cambodia

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