The company has seen total sales growth of just 7 per cent so far this year due to a fall in demand for construction materials as the property market is still recovering from a slowdown in demand.

Lafarge holds a 71-per-cent stake in the company and Siam Cement Group the remaining 29 per cent.

Siam Industry managing director Ivan Kovarik, who took over in August, blamed the low sales growth mainly on a lack of new development projects, which had resulted in slow demand for ordinary gypsum. However, demand for innovative gypsum products has seen strong growth of 17 per cent this year, compared with 8 per cent ilast year.

Consequently, the company plans to focus on new gypsum products, in particular its "Impact Wall" material that cuts noise pollution by up to 48 decibels. The company has allocated a promotional budget of Bt60 million for next year, Kovarik said.

Meanwhile, the company will revamp its five retail outlets under the concept "Gypsum Express" and  open five more branches next year.

Despite the implementation of its business plan, the company expects sales growth of only up to 5 per cent next year from total sales Bt2.5 billion this year.

"We estimate sales growth of only 5 per cent, because we believe the property market will remain in the doldrums next year, which will have a negative impact on gypsum sales," he said.