Cement News tagged under: Siam City Cement

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Cemex divests of Bangladesh and Thailand units, potential sale of minority stake in Philippine assets

11 March 2016, Published under Cement News

Cemex announced yesterday that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement Co for approximately US$53m. Meanwhile, Cemex's Philippine subsidiary has presented an application to Philippine authorities for the potential sale of a minority stake of assets in the southeast Asian country. Bangladesh and Thailand divestitures Proceeds obtained from the Bangladesh and Thailand transaction will be used mainly for debt reduction and for ...

CITIC Heavy Industries Co wins Cambodian plant project

07 December 2015, Published under Cement News

Chip Mong Insee Cement, a unit of domestic conglomerate Chip Mong Group, has signed a partnership agreement with China’s CITIC Heavy Industries Co Ltd to build a US$262m cement plant in Kampot province, according to local media. Chip Mong Insee is a joint-venture with Thailand’s Siam City Cement Plc formed in December 2012. The plant will have the capacity to produce 5000tpd. Construction is slated to start next year. During the signing ceremony at the weekend in Phnom Penh, Aidan Lynam, ...

SCCC third-quarter net profit down on weaker demand and pricing

29 October 2015, Published under Cement News

Siam City Cement Co (SCCC) of Thailand posted a 3Q15 net profit of THB823m (US$23.1m), falling 22 per cent YoY. Lower domestic cement demand and selling price led the company's income to fall five per cent YoY to THB7419m. Although exports to neighbouring countries (eg, Cambodia, Myanmar, and Laos) grew, it was not strong enough to offset declining domestic sales as price competition intensified, thus depressing 3Q15 gross margin to 43.1 per cent. During the year, cement demand perform...

Siam City Cement to set up Cambodian JV

24 September 2015, Published under Cement News

Thailand-based Siam City Cement (SCCC) has approved a plan to set up a joint venture with Chip Mong Group to operate a cement plant in Cambodia. Thailand’s second-largest cement producer SCCC will take 40 per cent equity in Chip Mong Cement Corporation Ltd, the joint venture firm, and Chip Mong Group and three other individuals will hold the majority 60 per cent. The JV firm has a registered capital of US$150m, comprising 75,000 ordinary shares at a par value of US$2000 each. It is expe...

Siam City Cement announces INSEE Alliance

04 June 2015, Published under Cement News

Siam City Cement (SCCC) this week announced one of Thailand's first industry-wide distribution channels and marketing collaborations in the building material sector with 11 other leading producers of construction materials to offer a " complete range of quality solutions' . The 'INSEE Alliance', which include companies producing structures, roofing, walls, flooring, and decorative materials will bundle their product offerings to project developers and modern-trade stores. Siva Mahasandana,...

Fitch affirms SCCC long-term rating, Thailand

09 April 2015, Published under Cement News

Fitch Ratings has affirmed Thailand-based Siam City Cement Public Company Limited's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)', and the National Long-Term Rating on its senior unsecured debentures at 'A(tha)'. The Outlook is Stable. Key rating’s drivers Strong market position: SCCC's ratings are underpinned by its market position as Thailand's second-largest cement producer by market share, with a stable market share of 27 per cent. Fitc...

Holcim

02 April 2015, Published under Cement News

Holcim has sold its remaining 27.5 per cent stake in Siam City Cement for CHF655m (EUR624m) in a share placement that will yield a CHF465m (EUR348m) profit. A 24.9 per cent stake went to a member of the Hong Kong-based Jardine Matheson group and the remaining shares were places with institutional investors. Siam City Cement has a cement capacity of 14.5Mta at its Saraburi works, which employs in excess of 4000 people. Following opposition from the shareholders of the more profitable Holci...

Thailand: Holcim sells stake in Siam City Cement

30 March 2015, Published under Cement News

Holcim Ltd today announces that it has sold its entire remaining shareholding of 27.5 per cent in Siam City Cement (Public) Company Ltd (SCCC) in Thailand via a private placement in capital markets. For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF655m (US$626m), which will result in a gain before taxes of approximately CHF365m (US$349m). Of the 27.5 per cent, 24.9 percent were acquired by a member of the Jardine Matheson Group, a Ho...

Holcim launches upto US$741.4m selldown in Siam City shares

27 March 2015, Published under Cement News

Holcim Ltd on Thursday launched an up to US$741.4m selldown of shares in Thailand's second-largest cement company Siam City Cement PCL (SCCC), IFR reported, citing a term sheet of the deal. Holcim is selling 63.29 million SCCC shares through its Thai Roc-Cem Ltd unit at an indicative range of between THB350 and THB381, putting the total deal at up to THB24.11bn (US$741m), added IFR, a Thomson Reuters publication. SCCC, controlled by Thailand's Ratanarak family, had announces Holcim's inten...

Holcim to sell Siam City Cement stake, Thailand

24 February 2015, Published under Cement News

Siam City Cement PCL (SCCC), Thailand's second-largest cement maker, said on Monday Holcim has decided to sell its 27.5 per cent stake in the company. SCCC said in a statement that Thai Roc-Cem Ltd, Holcim's indirect wholly-owned subsidiary, will sell 63.29 million shares of SCCC, but Holcim gave no details about the divestment or when the sale would be finalised. At the end of 2012, Holcim reduced its stake in SCCC from 36.8 to 27.5 per cent. The shares were purchased by Bangkok Broadcast...