Cement News tagged under: Thailand

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Siam Cement plans to expand Vietnam operations

08 November 2012, Published under Cement News

Thailand’s Siam Cement Group (SCG) will invest US$2m to expand its Vietnam operations next year with a total capacity of 100,000tpa. Pramote Techasupatkul, President of SCG Cement, told local press that now is not the right time to build a new cement plant in the country due to the cement surplus issues it is currently facing: “However, we have still drawn up the plan to expand the production of high-quality white and grey cement in Vietnam in the near future,” he said. SCG Cement in March...

Siam Cement outlines Southeast Asian expansion plans

26 October 2012, Published under Cement News

Thailand’s Siam Cement Group has outlined further details of plans to expand its cement presence in Southeast Asia. According to reports in The Nation, the group is to invest THB11bn to set up a cement plant in West Java, Indonesia with a capacity of 1.8Mta which is scheduled to commence operations in 2015. The board has also approved a THB5.5bn (US$ 357m) investment to increase capacity of the group’s Kampot Cement plant in Cambodia by about 0.9Mta, with the additional output expecte...

Siam Cement doubles cement sales forecasts

25 October 2012, Published under Cement News

Siam Cement Pcl has doubled its forecast for cement sales growth this year. The company is expected to benefit government projects and the private property sector, and growth should continue in 2013, Reuters reported Chief Executive Kan Trakulhoon as saying. "Cement demand is expected to reach 35Mt this year, which is the highest since 1996," Kan told reporters, referring to the year before the 1997 Asian financial crisis. The company recently announced that it plans to spend THB11bn on a...

Siam Cement net profit down, approves investment, Thailand

24 October 2012, Published under Cement News

Siam Cement PCL said Wednesday its third-quarter net profit fell 13 per cent from a year earlier, mainly because of higher expenses and cost of sales. Meanwhile, its board has approved THB16.5bn (US$53.6m) worth of cement investments to increase its footprint in Southeast Asia. The company posted a net profit of THB6.42bn (US$208.8m) for the three months ended 30 September, compared with THB7.38bn in the same period a year earlier, its filing to the Stock Exchange of Thailand showed. Sa...

Siam Cement sells bonds, Thailand

15 October 2012, Published under Cement News

Siam Cement PCL, Thailand's largest industrial conglomerate by sales, Monday said it has sold a THB6.5bn (US$211.6m) seven-year bond to institutional investors. Upon issuance, Siam Cement will have THB126.5bn in outstanding bonds, the company said in a filing to the Stock Exchange of Thailand. The seven-year bond will have a coupon of 4.40 per cent, the company said in a separate filing to the Securities and Exchange Commission. (Source: Dow Jones Global Equities News)

Siam Cement awaits Myanmar investment law to proceed with plant

10 October 2012, Published under Cement News

Siam Cement Group of Thailand is waiting for Myanmar to pass its foreign investment law before proceeding with plans to build a 5000tpd cement plant in the country. Speaking to the Bangkok Post, Pramote Techasupatkul, president of SCG Cement said: "The proposed Myanmar factory is waiting for the authorities there to implement the new foreign investment law as well as for our project proposals to be approved.” Myanmar recently delayed the implementation of the long-awaited foreign inve...

Siam Cement partial tender offer for Siam Global

05 October 2012, Published under Cement News

Siam Cement PCLsaid it will launch a tender offer to purchase around a third of building materials distributor Siam Global House PCL from 5 October to 9 November, according to a filing to the Stock Exchange of Thailand Thursday. Siam Cement, Thailand's largest industrial conglomerate by sales, announced in late August a plan to acquire up to 33.40 per cent in Siam Global House through its wholly owned unit, SCG Distribution, for about THB10bn ($326.2 million). The investment includes the...

TRIS assigns TPIPL at BBB+/Stable, Thailand

03 October 2012, Published under Cement News

TRIS Rating Co Ltd has assigned the company rating of TPI Polene PLC (TPIPL) at BBB+ with stable outlook. The rating reflects a strong position of TPIPL in domestic cement market as the third largest cement producer, its leading status in LDPE Homopolymer (LDPE) and LDPE Copolymer (EVA), product diversification, expected benefits from cost saving initiatives, and currently low financial leverage. The rating is, however, partially offset by the cyclical nature of engineering and constru...

Siam Cement sees 10% rise in domestic demand, Thailand

14 September 2012, Published under Cement News

Siam Cement Group (SCG) expects domestic cement consumption to be double than its earlier forecasts for 2012 as demand is on the path of recovery. Kan Trakulhoon, the president and chief executive, said capacity utilisation at SCG, the country's largest cement maker, this year will be on a par with last year at 18Mt or 78 per cent of its overall production level. He said the company aims to achieve maximum cement production capacity of 23Mt within the next three years thanks to recover...

Gresik sets aside US$300m for regional expansion

31 August 2012, Published under Cement News

Indonesia’s largest cement maker, PT Semen Gresik, has US$300m to expand its business to the regional markets of Myanmar, Cambodia and Vietnam, the company’s chief executive Dwi Soetjipto has said. Speaking to the Jakarta Globe, he said: “Expansion overseas is still in the process.” Previously, Dwi indicated that the company was looking at acquiring stakes in cement producers in Malaysia, Myanmar, Vietnam and Thailand as it seeks to extend its regional reach. He also told the Investor ...