The new Komatsu factory in Thailand

A Thai second-hand forklift business has defied the odds in a sluggish economy to perform well in its first year of operation.

The Bangkok Forklift Global Co (BFG), a joint venture between Siam Motor Group's wholly owned Bangkok Motor Works Co and Japan's Komatsu Asia Pacific Co, has sold nearly 200 used Komatsu forklifts in the last month.

Somkuan Inthiravoranon, managing director of BFG, says the recent sales figures are satisfying, given the short period of time the company has been in business.

The company hopes to sell at least 1,000 used Komatsu forklifts per year, including some exports, within the next three years and to sell 500 units in the current financial year which ends in March 2009.

He says used forklifts are increasingly in demand due to their prices. "The local demand for old forklifts is estimated at 2,500 to 3,000 units per year."

BFG was established in January 2008 and imports used Komatsu forklift trucks from Japan. The company distributes the machines locally, both wholesale for the domestic and export markets and retail to end-users.

BFG offers a wide range of Komatsu forklifts powered by diesel, petrol, liquefied petroleum gas and batteries, with lifting capacities between one and five tonnes.