 | |
| Company type | Public company |
|---|---|
| SET: ITD | |
| Industry | Construction |
| Founded | 1958; 66 years ago (1958) |
| Founder | Chaijudh Karnasuta and Giorgio Berlingieri |
| Headquarters | , |
Area served | Southeast Asia |
Key people | Premchai Karnasuta (President) |
| Website | Official website |
The Italian-Thai Development Public Company Limited was formed on 15 August 1958 as the "Italian-Thai Development" by its founders, Chaijudh Karnasuta and Giorgio Berlingieri. Their objective was to establish a Thai construction company.[1]: 6 The company registered as a limited public company on 24 March 1994 and was listed on the Stock Exchange of Thailand (SET) on 9 August 1994 with the symbol, ITD.[1][2]
In 1954, Chaijudh Karnasuta, a Thai, and Giorgio Berlingieri, an Italian, collaborated in a venture to salvage five sunken ships. The two forged a relationship and they founded Italian-Thai Development (ITD) on August 15 1958. In 1994, the company was publicly listed in the Stock Exchange of Thailand with a registered capital of 2,500 million Baht. The name of the company was subsequently changed to Italian-Thai Development Public Company Limited. ITD is responsible for the construction of the Suvarnabhumi International Airport which completed in 2006.[3]
As of 2016[update], the chairman is Krisorn Jittorntrum, with the director and president being Premchai Karnasuta.[1]
Italian–Thai Development PCL is the umbrella company of Italthai Group although Italthai management insists that, "The management of the Italthai Group and its subsidiaries have nothing whatsoever to do with Italian-Thai Development"[4] Italthai is a group of privately-owned businesses connected to Italian–Thai Development PCL. Its businesses are construction equipment,[5] construction,[6] hospitality,[7] and lifestyle.[8] The group employs more than 5,000 employees in seven countries across Asia Pacific.[9]