Toyo-Thai Wins Silicone Plant Construction ContractNov. 11, 2002

Toyo-Thai Corporation, Ltd. (Toyo-Thai; Bangkok, Thailand, President Atsushi Sugiura), which is an affiliate company of Toyo Engineering Corporation (TEC ;Tokyo, Japan, President Toshihiko Hirose), recently received a formal construction contract from G.E. Toshiba Silicones (Thailand) Ltd (GETOS; President Akihiko Kumagai). The contract covers construction of a silicone finishing plant, which will be built at the Asia Industrial Estate near Map Ta Phut in Thailand's Rayong Province.

Silicone monomer feedstock for this plant is manufactured by Asia Silicone Monomer Ltd, a joint venture company owned by GETOS and Shin-Etsu Chemical Co., Ltd. The new plant will produce 45,000 tons of silicone products per year, including silicone fluids and silicone rubber, of which over 90% will be exported out of Thailand.

Total investment for this plant is about 2.2 billion baht (approximately US$50 million). The range of services provided by Toyo-Thai for this turnkey project include detailed design, equipment supply and construction. Completion of the plant is slated for early 2004.

Since its founding in 1985, Toyo-Thai has established itself as one of the leading Engineering Contractors in Thailand, completing a variety of plant construction contracts as TEC's overseas base in Thailand.

TEC is currently making vigorous progress in its global development, connecting an international group of engineering companies as part of its transnational structure. Inspire by this award, TEC aims to further expand new orders of each group company in Thailand, India, South Korea, and Malaysia.

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