Texchem-Pack's factory flooded in Thailand

The group's subsidiaries located in China and Malaysia will be providing support to TXPT’s customers.

The company announced that its factory located in Ayutthaya, Thailand was flooded on 15 October 2011 resulting in the factory ceasing operations temporarily.

TXPT is a wholly-owned subsidiary of Texchem-Pack Bhd. which in turn is a wholly-owned subsidiary of Texchem-Pack Holdings. TXPT is principally engaged in the manufacturing and sale of thermoformed packaging products and precision injection moulded trays/parts.

According to the statement, the cessation of production will affect the performance of TXPT and will also have an impact on the performance of Texchem-Pack Holdings Ltd Group. To minimize disruptions to the businesses of TXPT’s customers that are not severely affected by the flood, arrangement has been made for other members of the Group located in China and Malaysia to provide support and continue to supply to TXPT’s customers.

"At this time it is not possible to assess the extent of the damage. The effect of this incident on the net tangible assets and earnings of the Group for the financial year ending 31 December 2011 will depend on the extend of the damage, the recovery speed of TXPT’s customers and the amount of recovery from insurance claims," it said.