Cement News tagged under: Thailand
Thailand: Italcementi to keep ASEAN base11 April 2016, Published under Cement NewsThailand will continue to be Italcementi Group's production base in ASEAN and its base for expanding into Myanmar after HeidelbergCement acquires Italmobiliare's 45 per cent stake in Italcementi in July, group Chief Executive Officer, Carlo Pesenti, said in an interview with The Nation. "Since Italmobiliare and HeidelbergCement signed an agreement regarding the sale to HeidelbergCement of Italmobiliare's 45 per cent stake held in Italcementi in July last year, we have discussed the poli... |
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 ... |
Fitch affirms Siam Cement at 'A(tha)', Outlook Stable10 February 2016, Published under Cement NewsFitch Ratings (Thailand) Ltd has affirmed The Siam Cement Public Co Ltd's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)' with a 'Stable' outlook. Fitch notes that SCC's strong operating cash flow led to an improvement in credit metrics in 2015. EBITDA increased to above THB70bn (US$1.98bn) which saw FFO (Funds From Operations) net-adjusted leverage reduce to 2.5x. "Whilst this is below the positive rating ... |
Thai SCG approvals proposals to buy out Vietnam tile firm29 January 2016, Published under Cement NewsSiam Cement Group (SCG) plans to wholly acquire Vietnam’s ceramic tile manufacturer. Siam Cement Group (SCG) has approved the proposal of its wholly owned subsidiary SCG Building Materials to acquire the remaining 15 per cent stake of Prime Group and related assets for THB2.19bn (US$61.24m), the Nation newspaper reported. SCG in December 2012 closed a deal to acquire an 85 per cnet stake in Prime Group, the largest ceramic tile in Vietnam, for THB7.2bn (~US$240m). SCG saw revenue up seven ... |
Siam Cement posts 29% rise in 4Q net profit27 January 2016, Published under Cement NewsSiam Cement Plc posted a 29 per cent increase in fourth-quarter net profit as better earnings from its chemical unit outweighed weakness in cement and the building materials business. For 2015 Thailand's largest industrial conglomerate posted a 35 per cent rise in net profit of THB45.4bn (US$1.27bn) due to strong chemical earnings, while its sales fell 10 per cent to THB439.6bn due to lower chemical prices, it said in a statement. Last week Bualuang Securities cautioned that the Cement-Bui... |
Siam Cement Group eyes Vietnam expansion26 January 2016, Published under Cement NewsThailand's Siam Cement Group plans to expand its operations in Vietnam, especially in the cement and petrochemical sectors. "Our target is that we must have a cement factory here, but by when we still cannot say. We're studying if we should invest on our own or through a joint venture," Dhep Vongvanich, SCG's Vietnam executive director, told The Nation newspaper. Meanwhile, Vongvanich added that SCG would continue with the construction of the US$4.5bn Long Son integrated petrochemical... |
SCC Cement-Building Materials division facing near-term challenges19 January 2016, Published under Cement NewsSiam Cement Co (SCC) is expected to report good fourth-quarter earnings, but its Cement-Building Materials' (CBM) division is expected to come under pressure from depreciation expenses related to Asean cement plants and weaker consumption in its home market of Thailand, Bualuang Securities writes. The research house expects SCC to report a consolidated 4Q15 net profit of THB9.5bn, up eight per cent YoY and six per cent QoQ. The assumed YoY increase is due mainly to stronger Chemicals pe... |
Thailand’s SCG to invest US$200m in Cambodia building materials sector21 December 2015, Published under Cement NewsSiam Cement Group (SCG) will invest US$200m to expand its operations in Cambodia between 2016-20. The company will focus on the cement and building materials sectors, which have strong potential to grow amid the Cambodian government's policy of ramping up infrastructure projects, said Kan Trakukhoon, president and CEO of SCG. "SCG sees Cambodia as one of the more interesting Asean members, with a high economic growth rate," Mr Trakulhoon said. |
Fives to supply Pillard burners to Siam Cement16 December 2015, Published under Cement NewsFives has recently been awarded a new contract by Siam Cement Group (SCG) to supply two Pillard NovaFlam® burners to equip the cement kilns at the Taluang plant in Thailand. This is the first time SCG has selected the Pillard NovaFlam® technology. The decision was based on Fives' expertise in Thailand, the equipment supplier highlighted. Fives added: "A multi-channel burner for rotary kilns for cement plants, Pillard NovaFlam® is easy to adjust and user friendly, with a high impulse effic... |
SCG anticipates challenging 2016 start02 December 2015, Published under Cement NewsNext year is expected be challenging for Siam Cement Group’s Cement and Building Materials, as the domestic market is facing the threat of new supply, according to management. Bualuang Securities hosted the SCG Dinner Talk on Friday, the key speakers of which were SCC's next CEO, Roongrote Rangsiyopash (effective January 2016), and CFO, Chaovalit Ekabut. During the event, management said domestic demand for cement in 1H16 is not expected to grow strongly enough to absorb new supply from T... |