Singapore: Mr. Atikom Terbsiri (3rd left of 1st standing row), Chief Executive Officer and President of Thai Oil Company Limited has recently witnessed a Unilever Purchasing Agreement (UPA) signed by Mr. Suchart Monyanont (far left sitting ), Managing Director of LABIX Company Limited (LABIX, as LAB manufacturer), and Mr. Juan Carlos Parada (middle sitting ), Vice President Procurement, Global Chemicals of Unilever Asia Private Limited (Unilever, as Buyer) and Mr. Taku Morimoto (far right sitting), Executive Managing Officer and Chief Operating Officer of Mitsui & Co., Ltd. (Mitsui, as Supplier). The UPA has also been witnessed by management members of 3 companies, which provides basic condition of sales and purchase of Linear Alkyl Benzene (LAB). The signing ceremony was held at Hibiscus room, Shangri La Hotel, Singapore.
Mr. Atikom Terbsiri, Chief Executive Officer and President of Thai Oil Company Limited said “The signing of UPA for a part of the output from LABIX is marked as our stepping stone for business relationship among Unilever, LABIX, and Mitsui. This collaboration will strengthen detergent supply chain and contribute stable detergent supply in South East Asia, a region where robust demand growth is expected.”
LABIX is owned 75% by Thai Paraxylene Co., Ltd., a wholly own subsidiary of Thaioil, and 25% by Mitsui & Co., Ltd. The construction of the LAB manufacturing plant began in August 2013 and its commercial operations began on 25 February 2016, making it the first LAB production facility in Thailand. The facility is considered as the first and only fully integrated LAB facility in South East Asia (SEA) with a capacity of 100,000 tons a year.
The LAB manufacturing plant is located in Thaioil refinery complex in Chonburi province, which is 105 kilometers from Unilever plant at Minburi Thailand, and shortly accessible to other Unilever plants in SEA countries as well by bulk vessel or flexi bag container. The location is ideal for minimizing logistics cost, and strategically advantageous for all parties.
Unilever is one of the detergent manufactures having strong presence in the world, and we aim to develop a long term partnership with Unilever. In addition to Mitsui’s strong distribution network, support from customers is essential for LABIX growth.
Mr. Atikom added “One of Thaioil’s strategies is to focus on the growth project especially those related to our core business of oil refinery. This is not only to enhance our product portfolio values but also to mitigate the impact of the oil price volatility.”
LABIX, Thaioil’s Subsidiary, Joins Hands with Unilever to Supply the Main Detergent Compound.
- Rungwigrai Payakkanuwat
- November 14, 2016
Share:
Tag:
Share on:
- Recent Posts
- Category
- Tag
Related News
Thaioil received Global Banking & Finance Awards 2026 Reaffirming Excellence in Financial Management and Capital Raising
Recently, Mrs. Wanida Boonpiraks, Executive Vice President- Finance and Accounting, representing Thai Oil Public Company Limited (Thaioil), recently received two prestigious awards at the Global Banking & Finance Awards 2026, organized by Global Banking & Finance Review, a leading international financial publication. The award ceremony was held in London, United Kingdom. The awards received are as follows: Corporate Finance CFO of the Year Thailand 2026 – This award recognizes Mrs. Wanida Boonpiraks ‘s vision, leadership, and outstanding capabilities in strategic financial management. It reflects her significant role in strengthening Thaioil’s financial position through disciplined financial management, prudent risk management, and the creation of sustainable value for shareholders and stakeholders amid volatile economic and capital market conditions. Energy Financing Deal of the Year Thailand 2026 – This award recognizes Thaioil’s successful issuance of US$600 million perpetual capital securities, which received an overwhelming response from global investors, with subscriptions exceeding the offering size…
Moody’s Affirms Thai Oil’s Credit Rating at Baa3, Citing Strong Balance Sheet and Continued Debt Reduction
Bangkok, 27 October 2025 – Thai Oil Public Company Limited (“TOP”) announced that Moody’s Investors Service has affirmed the company’s senior unsecured debt ratings at Baa3 and its Baseline Credit Assessment (BCA) at ba2, with an overall outlook remaining negative. Moody’s decision reflects Thai Oil’s strengthened balance sheet following its proactive debt reduction efforts throughout 2025. Over the past nine months, Thai Oil has repaid approximately US$933 million in debt, with an additional THB 18.23 billion (approximately US$550 million) in funding support from a collaborative asset monetisation transaction with PTT Group, announced on 25 September 2025. This collaboration has further reinforced the company’s financial stability and liquidity position. Thai Oil’s Clean Fuel Project (CFP) continues to progress steadily, with completion expected in the third quarter of 2028 at a total investment cost of US$7.151 billion. To maximise efficiency and maintain transparency at every stage, Thai Oil has appointed Foster Wheeler…
The Board of Directors of Thai Oil Public Company Limited has approved the Asset Monetization plan, which will raise over THB 18 billion to strengthen the Company’s financial position and reduce debt, while continuing to utilize the leased assets through a leaseback arrangement without interrupting ongoing operations. The company plans to propose the project for shareholders approval on 9 December 2025.
Thai Oil Public Company Limited (TOP) led by Mr. Bandhit Thamprajamchit, Chief Executive Officer and President of Thai Oil Plc, stated that on 25 September 2025, the Board approved the establishment of a new subsidiary, with PTT Tank holding a 49% stake. This subsidiary will invest in a 21-year long-term lease of selected infrastructure assets, located in Si Racha District, Chonburi Province, including crude oil storage tanks, Single Buoy Mooring (SBM), lorry loading station, and associated land. TOP is entering a leaseback arrangement of the assets back to the company for ongoing oil refinery business. Upon completion of the transaction, the Company will realize additional cash inflows, thereby reinforcing its financial position, improving key financial ratios, and enhancing its capital recycling. “This Asset Monetization initiative is aligned with the Company’s strategic direction to strengthen its financial position. This transaction will provide stable long-term cash inflows from leased assets while allowing…
