- Fortune Parts Industry Public Company Limited (“The Company”) was registered under the name of “Fortune Parts Industry Co., Ltd.” with an initial capital of two million Baht by Tanadamrongsak Family on 26 November 1991. To commence its operation, the Company imported two models of auto part molds from Republic of Taiwan and commissioned other factories to produce the parts for the Company to sell to domestic clients.
- Increased paid up capital to 20.00 million Baht for importing 20 molds from Profortune Industry Company Limited
- Increased paid up capital to 40.00 million Baht, which Profortune Industry Company Limited from Taiwan invested in the Company by holding 20% of total paid up capital.
- Increased paid up capital to 60.00 million Baht and began to produce molds by hiring specialist from Taiwan to work with the Company.
- Initially participated in auto parts expo “AMPA SHOW” in Taiwan and exported products to foreign countries.
- Increased paid up capital to 80.00 million Baht to purchase land, 11 rais 60 square wah for building a factory at Lamlukka klong 7 for expanding its production base prepared for foreign customers expansion.
- Relocated operations from Lamlukka Klong 4 to Lamlukka Klong 7 offering the usable area of 16,000 square meters.
- Restructured its shareholders since Profortune Industry Company Limited sold its business and sold the Company’s shares back to Tanadumrongsak family.
- Converted to public company limited and changed the name to “Fortune Parts Industry Public Company Limited”.
||Increased Paid-up capital was raised to 200 million Baht to fund further business expansion:
- Built factory and warehouse on area of 14 rais 1 ngan 28 sqaure wah, totally 25 rais 1 ngan 88 square wah for expanding all production processes.
- Invested in automatic chrome plating line, which increased capacity from 13 million square decimeters per year to 49 million square decimeters per year.
- Mold development and research by importing CNC machine (Computer Numerical Control) and EMD machine (Electrical Discharged Machine) from foreign countries for building large tools such as bumper and grill. Consequently, the Company was able to reduce its cost from import mold from foreign countries.
- Increased another automatic painting line, total 2 lines, prepared for OEM customers, causing in an increase of painting capacity to 15.72 million square decimeters per year.
- Modified chrome plating system by using technology and chemical solution from UEMURA (Japan) and ATOTECH (German) for improving its quality from REM quality to OEM line with Trivalent Chrome Plating (Cr3+) which used better biodegradable chemical solution than Hexavalent Chrome (Cr6+) and increased capacity by 5 million square decimeters to 54 million square decimeters per year.
- Built a 1,800 square-meter depot for raw material storage to accommodate the production growth.
- Invested in 4 injection machines, total 20 injection machines which increased its capacity to 4,103 tons per year.
- Built a painting line, total 3 lines, capacity was increased by 15.72 million square meters to 22.22 million square meters.
- Purchased nearby land area 20 rais 4 square wah prepared for automotive customers’ demand and separated OEM and REM customers.
- Invested in a plastic injection set up with robot system which increased its capacity to 4,839 tons per year.
- Increased a painting line, total 4 lines which increased its capacity from 22.22 million square decimeters to 28.72 million square decimeters per year, prepared for OEM customers.
- Increased registered capital to 295.00 million Baht by issuing 95.00 million shares, with a par value of 1.00 Baht which can be allocated as follows:
- 32,000,000 common shares to existing shareholders, which already allocated, resulting in the Company had paid up capital of 230,000,000 shares
- 60,000,000 common shares offer to initial public offering.
- 3,000,000 common shares offer to the Company’s directors and employees.
- Acquired two more plots of land nearby i.e. 4 rais and 1-2-99 rais to prepare for continuous improvement expansion of production, research & development and mold makings area, new office building and showroom.
- First Day Trade in Stock Exchange of Thailand for Market for Altenative Investment (MAI) on September 20, 2012.
- Built Engineer Building for expansion capacity of injection mold 30%
- Expansion Capacity for injection, for production bumpers and grilles.
- Expansion Vaccum Plating Process to accommodate growth in production lamps.
- Built new office, progress 80%
- Built new warehouse, progrees more than 20%
- Capital increase of 25 million Baht, from 295 million Baht to 320 million Baht by issuing new ordinary shares of 25 million shares at par value of 1.00 Baht to support the conversion of Convertible Debenture Bond.
- Built new office, progress about 100%
- Built new warehouse, progrees more than 80%
- The issued and paid-up share capital from 295 million Baht to 301 million Baht at par value 1.00 Baht due to foreign fund conversion of Convertibel Debentures into common stock.
- Change par value of 1.00 Baht per share to the new par value of 0.25 Baht per share with registered share 320 Million share to 1,280Million ordinary share and paid-up capital 301 Million share to 1,202 Million share.
- Amendment of Clause 4 of the Memorandum of Association of the Company by cancelling the existing provision and replacing it with the following provision, for consistency with the said change of the nominal par value of the Company’s shares.
- The investment in the Joint Venture Company name “Fortune-Parts Industry Ecuador Cia, Ltda. for 45% of the registered capital USD500,000 representing the invest of USD225,000. Located in Ecuador. Investment objectives have accommodated future growth related to automotive parts and accessories in South America.
- increase in the Company’s registered share capital from Baht 320 million (1,280 million ordinary shares of Baht 0.25 each) to Baht 395.73 million (1,582.92 million ordinary shares of Baht 0.25 each), through the issuance of 302.92 million additional ordinary shares with a par value of Baht 0.25 each, to be reserved for the exercise of the warrants.
- Paid-up 45% of share capital of USD500,000 to Fortune-Parts Industry Ecuador CIA, LTDA. Representing a total investment of USD225 000 US dollar. Located in Ecuador.
- issuance and offering of named and transferable warrants (FPI-W1). Allocated to the existing shareholders of the Company in a ratio of 1 warrant for every 4 existing ordinary shares, not exceeding 302.92 million units, term not exceeding 3 years from the issue date, exercise ratio1 warrant per 1 ordinary share and exercise price 2 Baht.
- Construction of office building, Showroom and warehouse building completed.
- Increase capacity by adding an injection molding machine with 2500 tons and 1000 tons of cargo capacity added to Plastic Bumper and grille.
- Chrome plating process to enhance production quality, giving rise to a market segment OEM.
- Signed a Memorandum of Understanding (MOU) for cooperation in the biomass power plant of up to 120 MW. And has already established four companies, each company has a registered capital of 20 million Baht, the company has paid the amount of 4.75 million Baht.
- Signed a Memorandum of Understanding (MOU) on cooperation in India. To establish a Joint Venture ALP FPI PARTS PRIVATE LIMITED, to expand production of the OEM market, which is large and has a high growth rate.
- approved the decrease of registered capital by Baht 17,072,366.50 from the existing registered capital of Baht 395,731,908.25 to the new registered capital of Baht 378,659,541.75, by cancelling 68,289,466 outstanding and unsold ordinary shares that have been reserved for exercising the right for the Company’s convertible debentures, at par value of Baht 0.25 per share.
- Incorporated associates total 4 companies: Safe Energy Group (Narathiwat 1) Co., Ltd., Safe Energy Group (Narathiwat 1) Co., Ltd., Safe Energy Group (Yala 1) Co., Ltd., Safe Energy Group (Songkhla) Co.,Ltd. The Board of Directors Meeting No.8/2015 and 9/2015 resolved to approve FPI investment in associates 4 companies at 25, 20, 25, 25 respectively.
- Signing MOU with Sriwattana Green Power Co.,Ltd. (“SGP”), Srijaroen Bio Power Co.,Ltd. (“SBP”) and Prize of Wood Green Energy Co.,Ltd. (“Prize”) for cooperation on feasibility study to invest in biomass power plant project of SGP, SBP. According to SGP and SBP operate the biomass power plants in Burirum province with each installation capacity at 9.9 MW. And Prize will operate the biomass power plants in Narathiwat province with installation capacity at 7.5 MW.
- To dissolving these companies as the below details;
1. Safe Energy Group (Narathiwat 1) Company Limited held by FPI 25.00%
2. Safe Energy Group (Yala 1) Company Limited held by FPI 20.00%
3. Safe Energy Group (Pattani) Company Limited held by FPI 25.00%
4. Safe Energy Group (Songkhla) Company Limited held by FPI 25.00%Due to these 4 joint venture companies could not pass the auction to acquire power purchase agreements (PPA) according to the regulation of purchasing the electricity from renewable power producer by competitive bidding at the first phase for the 3 southern border provinces and 4 districts of Songkhla province.
- Investments in ALP FPI PARTS PRIVATE LIMITED, a 45% stake with registered capital of Rs 200,000,000. India is based in India. To expand OEM production base, which is considered as a large market with high growth rate.
- Investment in auto painting line with robotic system.
- Improve the use of thermal energy from gas to biomass energy.
- Invest in the new associate company SAFE Energy Holdings Company Limited, that joint venture company will invest in biomass power plant. Incorporated and registration on 7 February 2017 with with registered capital of 1,000,000 Baht. The Company’s interest in this company is 49.98% of the registered share capital.
- On 13 February 2017, a meeting of the Company’s Board of Directors an investment in a biomass power plant project of Prize of Wood Green Energy Co., Ltd. by having Safe Energy Holdings Company Limited purchase 99.99% of the registered share capital, representing an investment of not more than Baht 425 million.
- On 13 March 2017, an Extraordinary General Meeting of the shareholders of Safe Energy Holdings Company Limited passed a resolution approving an increase in its registered share capital from Baht 1 million (10,000 ordinary shares of Baht 100 each) to Baht 426 million (4,260,000 ordinary shares of Baht 100 each), through the issuance of 4,250,000 additional ordinary shares with a par value of Baht 100 each for purchasing ordinary shares of Prize of Wood Green Energy Co., Ltd. However, the Company waived its right to subscribe to some additional shares. As a result, the Company’s shareholding decreased from 49.98% to 33.37%. During the year, the Company made share payments in proportion to its investment amounting to Baht 142 million.
- On 11 August 2017, an Extraordinary General Meeting of the shareholders of Safe Energy Holdings Company Limited passed a resolution approving an increase in its registered share capital from Baht 426 million (4,260,000 ordinary shares of Baht 100 each) to Baht 581 million (5,810,000 ordinary shares of Baht 100 each), through the issuance of 1,550,000 additional ordinary shares with a par value of Baht 100 each to existing shareholders for investment in Bina Puri Power (Thailand) Co., Ltd. and SAFE Biomass Co., Ltd. During the year, the Company made share payments amounting to Baht 52 million.
- On 31 August 2017, the Annual General Meeting of the shareholders of ALP FPI PARTS PRIVATE LIMITED passed a resolution increasing its registered share capital from INR 200 million to INR 320 million, with the Company’s shareholding structure remaining unchanged.
- Acquired of land 6 rais total investment amount 35.65 million, the transfer ownership of 4 rai total amount 22.94 million to expand the production lines.