December 03, 2008

AGE expects 2008 sales to rise by 50% YoY

Bangkok Post reported that Asia Green Energy Co, a coal importer controlled by the Kok Huad Group of the Kuansataporn family, expects bituminous coal import sales to rise at least 50% YoY in 2008 to THB 1.56 billion.

Mr Panom Kuansataporn MD of Asia Green Energy said that we also expects coal trading revenue to grow by 40% in the year ahead, Since 2004, the group has diversified away from biomass, in which it has 40 years of experience, into coal trading managed via wholly owned AGE.

The firm's clients are mostly in the industrial sector, which was now rising in line with the increasing number of manufacturers that want to shift from fuel-oil to coal to cope with the surge in oil prices.

Mr Kuansataporn said the group decided to shift from biomass as the market has been saturated for the past few years and suffers from raw material constraints.