Siam Cement sells stake in industrial estate firm

Siam Cement sells stake in industrial estate firm
01 October 2010


Siam Cement PCL said Friday that it has sold its remaining 75% stake in SIL Industrial Land Co. to Hemaraj Land & Development PCL in a deal worth THB760m (US$25.1m).

The sale comes after its recent divestment of a 25% stake in SIL Industrial, an operator of industrial estates with a total area of 7,100 rai (1,136 hectares) in Saraburi and Rayong provinces, to Hemaraj, the company said in a filing with the Stock Exchange of Thailand.

SIL Industrial said that at the end of 2009, it had assets worth approximately THB1.7bn and liabilities of THB650m.
Published under Cement News