Siam Cement outlines investment to strengthen ASEAN presence

Siam Cement outlines investment to strengthen ASEAN presence
Published: 03 September 2014

Tagged Under: Siam Cement Group ASEAN 

Siam Cement Group, Thailand's largest building materials company, is preparing to invest THB3.19bn (US$$100m) in its core business, part of the company's to strengthen its high-value-added products and boost its presence in the ASEAN region.

"(Our aim is) to become an Asean sustainable business leader," said President and CEO Kan Trakulhoon in a statement

About THB2.8bn of the investment is earmarked for mortar plants in the northeastern province of Khon Kaen and the northern province of Lampang, with a combined production capacity of 2Mt. Operations are expected to start in the first half of 2016.

Also in the pipeline is a retail joint venture with Siam Global House, a listed housewares retailer in which SCG holds a 30 per cent stake, to be set up by 2015. The new joint venture, to be based in Bangkok, will be for investing in other Asean countries. Siam Cement's investment will be roughly THB200m for a 50% stake of the company.

"(The investment offers) tremendous future opportunities while leveraging SCG's market leadership and business network in this region, and Siam Global House's expertise in this field," Kan said.

Another THB190m, which is also part of the company's total R&D investment plan for 2014, will be spent to increase its stake in Lysando, a life sciences related research and development firm based in Germany, to 20 per cent from the current 9.9 per cent by the end of this year.