- Business
- PM Thoresen Asia Holdings Public Company Limited (PMTA.BK) is a Thailand-based investment holding company primarily engaged in the manufacture and sale of fertilizers and agrochemical products through its subsidiaries. Founded in 2014 and headquartered in Bangkok, the company operates principally in Vietnam via its 100%-owned subsidiary Baconco Company Limited, which produces NPK synthesized chemicals and microelement fertilizers, compound and single fertilizers, foliar fertilizers, pesticides, and insecticides under the STORK brand; Baconco also provides factory area management services, including warehousing and logistics at three facilities (BCC I, BCC III, and BCC V) totaling 31,800 square meters in Phu My I Industrial Park, with an additional 50,000-square-meter facility under construction, and supplies seeds and agricultural materials. PM Thoresen Asia (Singapore) Pte. Ltd., another wholly owned subsidiary established in 2013, handles raw material procurement, including macronutrients such as nitrogen, phosphate, and potash, to support Baconco's operations; Baconco sells domestically through 130 wholesalers, exports to 32 countries (primarily ASEAN and Africa) with a 25% Vietnamese market share, and holds a 450,000-metric-ton annual production capacity following a 2014 granulation facility expansion. PMTA is a wholly owned subsidiary of Thoresen Thai Agencies Public Company Limited and focuses on the agricultural inputs sector, serving farmers and distributors amid Vietnam's growing agricultural economy. In recent developments, Baconco secured exclusive distributorship rights for Solvay's innovative "N-Protect" urea fertilizer products from Belgium in 2025; the company reported net profit growth of 16% year-over-year to Baht 114.6 million for the nine months ended September 30, 2025, despite an 18% revenue decline in Q3/2025 to Baht 753.0 million due to delayed domestic demand from weather issues, bolstered by tripled export volumes to markets including the Philippines, Thailand, and Cambodia.