Thailand’s Siam Cement has reached a deal to raise its stake in a listed Philippine building materials firm from 40 per cent to 80 per cent in a deal valued at THB1bn (US$33m).
However, the company has declined to name the firm, but it is thought to be Mariwasa Siam Holdings of which the company owns 40 per cent according to its latest annual report. Siam chief executive Kan Trakulhoon declined to confirm.
Mr Trakulhoon said it would make a decision by the end of this year on weather it would build a cement plant in Myanmar which would have an annual capacity of 1.8Mt or 1.9Mt. The investment plan would not exceed THB10bn, Mr Trakulhoon noted.