EXIM Thailand Finances Gisscos Production and Export of Metal Casting Machinery to Sharpen Thai SMEs Global Competitiveness through Product Innovation

Stocks and Financial Services Press Releases Thursday November 8, 2018 09:25
Bangkok--8 Nov--EXIM BANK

EXIM Thailand rendered a credit facility of 5 million baht to Gissco Co., Ltd., manufacturer and exporter of machinery and equipment for die casting under its own brand and proprietary "GISS technology," which has earned the company international acclaim. This has been in line with EXIM Thailand's strategy to support high-potential SMEs applying innovative technology to boost their competitiveness in the global markets.

Mrs. Wantana Mongkolsri, Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Sangop Thanabumrungkul, Managing Director, Gissco Co., Ltd. (Gissco), and Assoc. Prof. Dr. Jessada Wannasin, CEO of Gissco, signed a financial facility agreement worth 5 million baht on November 7, 2018 at EXIM Thailand's Head Office to support Gissco's expansion of production and export of metal casting machinery and equipment using innovative technology for enhanced production efficiency. Among its key clientele are large corporations in automobile and electronics industries, such as Toyota Motor Corporation in Japan, and Hyundai Motor and LG Electronics in South Korea.

EXIM Thailand Senior Executive Vice President said EXIM Thailand's financial support is in line with its strategy to assist high-potential SMEs in growing their export with emphasis on innovation and production technology development. Gissco is an SME with a success story in translating their R&D into product invention under "GISS" Technology (Gas Induced Semi-Solid Technology) which has won a number of international awards. GISS Technology helps close certain technological gaps for metal casters and parts producers by reducing formation of air bubbles and waste material associated with the die-casting process, resulting in around 20% higher efficiency in die casting, twice longer die life, and significant cost reduction.

"EXIM Thailand strives to support Thai SME exporters, the country's essential economic growth engine, in converting their R&D activities into commercial innovation and utilization while helping to eliminate their financial limitations. This aims to help Thai exporters to compete in high-end markets effectively and sustainably," added Mrs. Wantana.

For further information, please contact Corporate Communication Division, Secretary and Corporate Communication
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1141, 1144

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