Sri Trang Agro-Industry PCL (STA) has joined the Global Platform for Sustainable Natural Rubber (GPSNR) in the producers, processors and traders category.
STA, a prominent natural rubber company founded in 1987, is dedicated to promoting sustainable and fair production of natural rubber on a large scale. Operating extensive rubber plantations spanning nearly 7,000 hectares in 19 provinces of Thailand, STA holds a significant position in the global natural rubber market. By joining GPSNR, STA demonstrates its strong commitment to advancing a more sustainable and ethical natural rubber sector.
“We are thrilled to welcome Sri Trang Agro-Industry Public Company Limited to GPSNR,” said Stefano Savi, Platform Director of GPSNR. “Given the company’s scale and outreach, we look forward to their insights and contributions to important industry-wide processes on sustainable and equitable production currently underway at GPSNR, like our assurance model and shared investment mechanism.”
Nattee Thiraputhbhokin, Chief Marketing Officer of STA, stated, “Joining GPSNR reflects our unwavering commitment to advancing sustainable practices in the natural rubber industry. In addition, in the ever-evolving world of rubber production, STA emerged as a trailblazer with its groundbreaking Sri Trang Ecosystem. This digitalized, transparent, and sustainable framework showcased STA’s unwavering commitment to advancing sustainability in the natural rubber industry. With traceability ingrained in every step, from rubber tree cultivation to the delivery of traceable products, the ecosystem sets a new standard for better accountability. Joined by other industry leaders under the Global Platform for Sustainable Natural Rubber (GPSNR), STA aimed to forge a more sustainable and equitable future for all stakeholders, inspiring a transformation that resonated far beyond their business borders.”
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Sri Trang Agro-Industry PCL (SET: STA), the world’s leading fully integrated green rubber company and Thailand’s largest producer of rubber gloves, has opened the Company’s first raw material procurement center in Ivory Coast, aiming to expand its sources of raw material as well as providing agricultural knowledge to local rubber plantation farmers. The plan is to establish a total of five procurement centers in the country within next year. Ivory Coast is projected to have a production capacity of over 1.3 million metric tons of rubber this year, surpassing Vietnam and becoming the world’s 3rd largest rubber exporter.
Sri Trang Agro-Industry PCL runs the business with expertise and sustainability from upstream to downstream. The World‘s Leading Fully Integrated Green Rubber Company specializing in rubber plantation management and natural rubber products, it is the only Thai rubber company dually listed on the Stock Exchange of Thailand (SET: STA) and the Singapore Exchange (SGX: NC2).
Mr. Veerasith Sinchareonkul, Managing Director and Executive Director of Sri Trang Agro-Industry PCL revealed that it had established a subsidiary last year in Ivory Coast, or Cote d’Ivoire, to support business expansion through procurement of raw materials from new sources, most recently on June 1. The Company commissioned the first center to assess raw material sources with high growth potential, while planning to open five procurement centers by 2024, expanding its capability and coverage in sourcing raw materials.
The primary driver behind the subsidiary and procurement centers in Ivory Coast is the suitable climate and environment or cultivating rubber trees, resulting in continuous increases in production. Therefore, the country holds significant potential for rubber production and export. The International Rubber Study Group (IRSG) estimated that by 2023 Ivory Coast is projected to have a total rubber production capacity of 1.31 million tons, an increase of 23 percent from 2021, with projections of 1.37 million metric tons and 1.42 million metric tons in 2024 and 2025, respectively.
At present, Ivory Coast is the world’s 4th largest exporter of rubber, following Thailand, Indonesia, and Vietnam. However, IRSG forecasts that Ivory Coast’s rubber production will surpass Vietnam’s and become the world’s 3rd largest rubber exporter within this year.
“We recognize that accessing new supplies in Ivory Coast will greatly support the Company’s business in terms of expanding the sources of raw materials. In addition, our on-ground team is also providing agricultural knowledge on rubber cultivation to rubber plantation farmers in Ivory Coast, further enhancing the country’s capability as one of the world’s top producers of high-quality raw materials,” Mr. Veerasith added.
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Mr. Somwang Sincharoenkul, founder of Sri Trang Agro-Industry PCL (STA), the parent company of Sri Trang Gloves (Thailand) (STGT), has passed away peacefully at his home in Trang province, Thailand, on 27 February 2023. He was 97.
Sri Trang Agro-Industry Founder Somwang Sincharoenkul Passes on at 97
A luminary in the Thai rubber industry, Mr Somwang founded STA in 1987, and was instrumental in establishing the strong foundations for the Group’s growth. Under his visionary leadership, STA has grown from its early days as a producer of ribbed smoked sheets in Hat Yai, to become the world’s leading fully integrated natural rubber company with approximately 7,200 hectares of rubber plantations across 19 provinces in Thailand. The Group is also the world’s largest producer of midstream natural rubber products, technically specified rubber (TSR), ribbed smoked sheets (RSS) and concentrated latex. STA went public on the Stock Exchange of Thailand (SET) in 1991, and successfully sought a secondary listing on the Singapore Exchange (SGX) in 2011. It currently has a market capitalization of about THB39.55 billion (SGD1.51 billion).
STA marked its expansion into the glove production business with the establishment of STGT in 1989. STGT was listed on the SET and made its debut on the SGX in 2021. The company has a market capitalisation of about THB31.80 billion (SGD1.22 billion) and ranks among the world’s largest producers of latex and nitrile gloves today.
Mr Somwang retired as Chairman of STA, and was succeeded by his son Dr Viyavood, in 2010. He continued to serve as Sri Trang Group’s honorary advisor until 2023. Mr Somwang is survived by four children, 11 grandchildren and three great grandchildren.
Mr Somwang’s casket is currently lying at Kuanwisade Temple in Thap Thiang Sub-district, Mueang District, Trang Province. The itinerary of the Merit Making, Abhidhamma Chanting and Cremation Ceremony is as follows:
28 Feb (Tuesday) 03.00pm Bathing ceremony Abhidhamma chanting ceremony 1 March (Wednesday) 07.00pm Abhidhamma chanting ceremony 2 March (Thursday) 07.00pm Abhidhamma chanting ceremony 3 March (Friday) 07.00pm Abhidhamma chanting ceremony 4 March (Friday) 07.00pm Abhidhamma chanting ceremony 5 March (Saturday) 10.00am Buddhist sermon, 10.30am Buddha’s Mantra Chanting, Offering food to the monks for lunch 12.00pm Matika Chanting and Bangsukun Chanting; 01.00pm Body to be taken around the temple’s crematorium
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sri Trang Agro-Industry PCL For additional information, please contact: Wasana ‘Jeab’ Wongsiri T: +66 84 359 0659, +66 2 612 2081 ext.131; E: wasana.w@mtmultimedia.com
Pressing ahead with its campaign to provide inoculation to all Southeast Asia based employees of the Sri Trang Group of Companies against Covid-19 with Sinopharm vaccine, provided by the Chulabhorn Royal Academy, Sri Trang Gloves (Thailand) PCL reached its goal of 100% jabs for its entire workforce of 11,000 employees in production plants and Southeast Asia offices. The second jabs will be given at the end of July. Other companies in the group will continue their inoculation programs where permitted until the goal is achieved, demonstrating the group’s commitment to employee welfare. Most recently, Veerasith Sinchareonkul, Executive Director of Sri Trang Agro-Industry PCL (STA), and Jarinya Jirojkul, CEO of Sri Trang Gloves (Thailand) PCL, pledged to implement the group’s ESG policy, which pays special attention to sustainability in business while treating employees with fairness in accordance with human rights and transparency principles. The companies have launched the Covid-19 vaccination program for all Southeast Asia based employees and their family members as well as select employees of suppliers and trading partners.
At the same time, the Sri Trang Group will earnestly continue to acquire additional doses of alternative vaccines for its employees and families in Thailand and abroad, as well as select members in its supply chain, to build confidence for all concerned and to help these countries overcome the current Covid-19 crisis as soon as possible.
Visit Sri Trang Gloves (Thailand) PCL (SET: STGT) (SGX: STGT) at https://www.sritranggloves.com/en.
Disseminated by the Public Relations Dept of MT Multimedia on behalf of Sri Trang Gloves (Thailand) PCL For more information, please contact Wasana “Jeab” Wongsiri at wasana.w@mtmultimedia.com.
