Serim TTC is a geographically diverse Korean foam maker, Simon Robinson visited Sung Tek Lim, executive managing director, who explained the firm’s plans for the future.
The performance of our company in 2014 was “not bad with a help of a stable raw prices,” said Sung Tek Lim, executive managing director of Serim TTC.
Lim said turnover and pre-tax profit of Serim TTC, Serim group’s parent company, is expected to be about $52.3m in 2014 and pre-tax profit $2.6m. These numbers are likely to remain unchanged in 2015, Lim added.
Serim group has two companies in South Korea for which make and sell slab-stock. Serim TTC is located in Yangsan and the other, Alfome, is located in Umsung.
Serim has several overseas plants, Lim said. “We have two frothing and converting companies, PT. Serim and PT Sky Foam, and one converting company, PT Serim Medan in Indonesia.
“We have two frothing and converting companies in China: Serim China Qingdao and Serim China Guangzhou,” he said. Lim added that Serim has a converting company Serim China Beijing, which is also located in China.
Serim’s Indonesian companies are performing well, Lim said, but added that “the Chinese companies are not performing so well due to higher labour expenses and severe competition” which drives down sales prices.
Serim group’s biggest foam sales from its…