President Bakery has earmarked THB300m (US$7.9m) to build a new factory to meet growing demand at home and abroad, according to a report in the Bangkok Post.
The new factory is to be built in the Min Buri district of Bangkok and is expected to be completed by 2008.
According to President’s own research, bread consumption is rising in Thailand, particularly among younger people and in the major cities.
President Bakery is forecasting 18% revenue growth this year from THB2.15bn last year, with around 90% of the company’s sales coming from its Farmhouse brand.