Company History
Establishment of North East Jute Mill Co., Ltd.
NEP Realty and Industry Public Company Limited commenced operations on 2 July 1953 as North East Jute Mill Co., Ltd., with initial registered capital of THB 10 million, as a manufacturer and distributor of jute products. On 6 August 1959, the Company was converted into a state enterprise, with the Ministry of Finance holding nearly all of its shares.
Founded 30 May · Registered 2 JulyConversion into a State Enterprise
The Ministry of Finance acquired nearly all of the Company's shares, marking the beginning of its role as a Thai state enterprise.
6 August 1959Listed on the Stock Exchange of Thailand — Thailand's First Privatized State Enterprise
The Company's shares were listed on the Stock Exchange of Thailand on 16 July 1987, making it the first state enterprise in Thailand to be privatized.
16 July 1987Expansion into Woven Plastic Sack Production
A new production line was introduced to meet market demand as the industry shifted from jute sacks to plastic packaging.
Conversion into a Public Limited Company
In 1994, the Company was registered as a public limited company under the Public Limited Companies Act, under the name
"NEP Realty and Industry Public Company Limited"
Discontinuation of Jute Product Manufacturing
In 2007, due to declining market demand and shortages of jute raw materials, the Company discontinued its jute product manufacturing operations pursuant to a resolution of Board of Directors' Meeting No. 10/2007 held on 19 September 2007. Plastic packaging thereafter became the Company's sole core product.
19 September 2007Relocation of the Factory to Navanakorn Industrial Promotion Zone
In 2011, the Company relocated its factory from Cho Ho Subdistrict, Mueang District, Nakhon Ratchasima Province, to the Navanakorn Industrial Promotion Zone, Sung Noen District, Nakhon Ratchasima Province, on a site of 19 rai 3 ngan 45 square wah (approximately 31,780 square meters), comprising:
An office building of 600 square meters
Production Building 1 (Flexible Packaging), used for manufacturing flexible packaging products, with an area of 3,600 square meters
Production Building 2 (Finishing), used for printing, laminating, cutting, and sewing, with an area of 2,900 square meters
Production Building 3, used for producing tape yarn and woven fabric, with an area of 3,600 square meters, bringing the total production area to 10,100 square meters
A warehouse of 600 square meters and a canteen
Expansion of the Flexible Packaging Production Line
In 2016, the shareholders' meeting approved the issuance of newly issued ordinary shares offered to existing shareholders (Rights Offering: RO) totaling 965,518,334 shares (of which 416,819,746 shares were subscribed), to fund business expansion. The Company used the proceeds to invest in machinery and recruit specialized personnel to expand its flexible packaging production line. Production commenced in May 2016 with a capacity of up to 1,000,000 meters per month. In 2017, the Company continued to expand this production line to accommodate growing market demand in accordance with its business plan.
Sale of Tape Extrusion and Sack Weaving Machinery
The Company sold one tape extrusion machine and 59 sack weaving looms, used in the production of woven sack fabric, to Vava Pack Co., Ltd.
Termination of Machinery Leasing and Printing Services
The Company terminated its machinery leasing and plastic sack printing services provided to Vava Pack Co., Ltd., and sold eight items of plastic sack printing machinery and equipment to Vava Pack Co., Ltd. The Company continues to sell plastic sacks to its customers, but has shifted from in-house production to outsourced manufacturing in order to control costs and enhance efficiency.
Exit from Legacy Packaging · Acquisition of the VAVA Z Business
On 23 February, the Company ceased the manufacture and distribution of plastic sacks and flexible packaging products. On 30 June, the Company acquired the business of VAVA Z Co., Ltd., a manufacturer and distributor of products under the VAVA Z brand, a circular upcycling brand. The Company began recognizing revenue from this business on 1 July, marking the start of a new business under its environmental business plan, with the aim of extending the VAVA Z brand to other product categories in the future.
Full Transformation into a Consumer Products Business
In 2025, the Company fully restructured its business toward consumer products, with two core brands:
VAVAZ: Manufactures and distributes bags and lifestyle products made from recycled materials, distinguished by modern and distinctive design.
WISE: Zipper food storage bags and other packaging bags, highlighting production innovation that meets international standards.
The Company also plans to expand into additional product categories, alongside trading of all types of goods and the management of its assets to maximize their value.
Q3 2025