Cement News tagged under: Siam City Cement
Cemex sells its Bangladesh operations to Siam City27 May 2016, Published under Cement NewsCemex has closed the sale of its operations in Bangladesh and Thailand to Siam City Cement for approximately US$53m.The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. |
Cambodia: work begins on Kampot cement plant23 March 2016, Published under Cement NewsWork started last weekend on Cambodia’s largest cement plant, which will be built in Kampot province with an investment of US$262m by Chip Mong Insee Cement. Chip Mong Insee is a joint venture with Thailand’s Siam City Cement and was formed in December 2012. The new plant will have a cement capacity of 5000tpd. Leang Khun, the president of Chip Mong Group, said during a ceremony at the site that the new works has been designed to international standards and will also utilise energy-saving ... |
Cemex divests of Bangladesh and Thailand units, potential sale of minority stake in Philippine assets11 March 2016, Published under Cement NewsCemex 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 project07 December 2015, Published under Cement NewsChip 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 pricing29 October 2015, Published under Cement NewsSiam 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 JV24 September 2015, Published under Cement NewsThailand-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 Alliance04 June 2015, Published under Cement NewsSiam 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, Thailand09 April 2015, Published under Cement NewsFitch 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... |
Holcim02 April 2015, Published under Cement NewsHolcim 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 Cement30 March 2015, Published under Cement NewsHolcim 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... |