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The friendship of Dr. Chaijudh Karnasuta, a Thai, and Mr.Georgio Berlingieri, an Italian, led to the foundation of the Italthai Group, a major Thai construction, trading and manufacturing group. It all started in January 1954 when Mariners Co.,Ltd., a company belonging to Dr. Chaijudh's brother-in-law, signed a contract with the Harbour Department to salvage five ships sunk in the Chao Phraya River. Relying on the technical support of a Japanese salvage company, Dr. Chaijudh counter-guaranteed all the bonds and guarantees required by the contract. When the Mariners Co.,Ltd., failed to salvage the ships, the Harbour Department threatened to cancel the contract and to enforce the bond and counter-guarantee.
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