Feb 15, 2013

ASEAN - B. Grimm targets expansion in energy projects in Asean

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B. Grimm Group, one of Thailand's oldest trading conglomerates, is expanding its energy and air-conditioning businesses across Southeast Asia.

Bayer B. Grimm, a joint venture with a German partner, has been in talks to acquire an air-conditioning company with assets in Malaysia, Singapore and Vietnam, said B. Grimm chairman Harald Link.

B. Grimm holds 51% of the joint venture with Bayer AG, he told a briefing yesterday.

The group is also seeking investment opportunities in renewable energy such as hydro, wind and solar projects in neighbouring countries. Malaysia, for instance, is a potential location for hydro and wind energy projects.

With ongoing investments of 70 billion baht over the next seven years, B. Grimm aims to increase its power-generating capacity from 500 megawatts to 2,000 by 2019.

If the planned renewable projects are included, capacity could reach 5,000 MW, Mr Link said.

"In view of the upcoming Asean Economic Community in 2016, B. Grimm is poised to explore new business and investment opportunities in Asean countries such as Myanmar, Malaysia, Vietnam and Singapore," he said.

Through B. Grimm Power and Amata B. Grimm Power, a joint venture with industrial land developer Amata Corporation, two projects will be completed this year on Amata's industrial estate in Rayong.

Another two plants are under construction at Bangkadi Industrial Park in Pathum Thani province.

Eight more projects are under development in Thailand and Vietnam.

Merck Thailand, a joint venture between B. Grimm and Germany's Merck, has seen opportunities to grow its pharmaceutical business in Asean including Myanmar, Mr Link said.

The Competition Centre, a centre of industrial metrology run by German partner Carl Zeiss AG, will be launched this year as part of the group's healthcare business.

Joint venture Maquet Thailand will introduce innovative medical devices such as artificial cardiovascular grafts and mesh for hernia support after acquiring Atrium Medical Inc.

B. Grimm expects revenue will grow by 17.7% this year to 23.5 billion baht, due mainly to its growing energy portfolio.

In 2012, six core businesses generated turnover of 20 billion baht, up 9.3% from the year before.

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