Displaying items by tag: Siam Cement
Thailand: Siam Cement Group (SCG) says that it is reviewing its planned US$2.4bn investment programme for 2022 due to the changing conditions it faces following the Russian invasion of Ukraine and ensuing cost rises. The Bangkok Post newspaper has reported that the company has recorded a rise in raw materials and energy costs across its businesses.
President and chief executive officer Roongrote Rangsiyopash said "We will delay some new investment projects, especially greenfield investments, and consider increasing more investments under merger and acquisition plans to avoid possible impact on our long-term financial management." Rangsiyopash added "Prices of cement and building materials will also gradually increase."
Thailand: Sales from Siam Cement Group’s (SCG) cement business rose by 6% year-on-year to US$5.61bn in 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 13% to US$145m. The company said that demand for cement improved gradually in the fourth quarter of 2021 following Covid-19 related shutdowns in the third quarter. Overall group sales were US$16.5bn in 2021, up by 33%, and net profit rose by 38% to US$1.4bn, boosted by the company chemicals division performance.
President and chief executive officer Roongrote Rangsiyopash said that its integration of environmental and social governance, along with a digital transformation, during the year contributed towards growth, along with a demand rise in line with the decline in Covid-19’s ongoing impacts.
Grupo Argos ranked Gold in S&P Global Sustainability Yearbook 2022
02 February 2022Colombia: Analyst S&P Global has given Grupo Argos the rank of Gold in its Sustainability Yearbook 2022. Grupo Argos is the only construction materials company to have achieved Gold in the yearbook. Thailand-based Siam Cement Group (SCG) ranked Silver, while Ireland-based CRH and Switzerland-based Holcim, along with the latter’s subsidiary Ambuja Cements, ranked Bronze.
Legal and sustainability vice president María Isabel Echeverri said “This recognition is a result of teamwork and the permanent commitment of Argos to building a better future in which the creation of value for society and for the company is our greatest motivation. We will continue to strengthen our initiatives and strive to positively contribute to the responsible development of our sector and the well-being of our stakeholders, to enable a more sustainable, prosperous and inclusive society.”
Siam Cement Group to spend US$2bn on CO2 reduction by 2030
15 December 2021Thailand: Siam Cement Group (SCG) plans to spend US$2bn towards meeting its CO2 reduction target by 2030. The industrial group and cement producer intends to reduce its emissions by 20% by the end of the decade, according to the Bangkok Post newspaper. Chief executive officer Roongrote Rangsiyopash, said that the investment will be made from 2022 to 2030 and that it follows the United Nation’s Sustainable Development Goals (SDG), the Thai government's bio, circular and green (BCG) economic model and environmental, social and governance standards (ESG). After 2030 the group has a net zero goal for 2050.
In cement production the SCG wants to increase its rate of alternative fuels such as biomass and refuse-derived fuel. It also wants to invest in carbon capture utilisation and storage, use electric vehicles and use artificial intelligence systems in energy management. The group plans to reduce coal usage at its cement plants in Thailand, Vietnam, Laos, Cambodia and Indonesia by 50% in 2022. It also plans to use more electricity generated by renewable energy for its factories.
Wiroat Rattanachaisit appointed as vice president of Siam Cement Group’s regional cement business
01 December 2021Thailand: Siam Cement Group has appointed Wiroat Rattanachaisit as the Vice President of its Regional Cement Building Materials Business with effect from the start of 2022. He also becomes the Vice President of the group’s Housing Products and Solution Business. Rattanachaisit is currently a country director for the group’s cement business in Indonesia. He holds a bachelor’s degree in business administration from University of the Thai Chamber of Commerce and also attended the Harvard Business School’s Advanced Management Program.
Siam Cement Group acquires stake in Indonesian retail chain
25 November 2021Indonesia: Thailand-based Siam Cement Group (SCG) has completed its acquisition of a 13% stake in building materials retailer Caturkarda Depo Bangunan (CKDB). SCG made the purchase through a joint venture its runs with Siam Global House. The cement producer said that the acquisition was intended to support its strategic expansion in the Association of Southeast Asian Nations region and that it might increase its stake at a later date. CKDB is headquartered in Surabaya, East Java.
Fire at Siam Cement Group’s Kaeng Khoi plant to slow exports
03 November 2021Thailand: Siam Cement Group (SCG) says that a fire at its integrated Kaeng Khoi plant in Saraburi may affect exports on a temporary basis. The cement producer reported a fire at the site on 29 October 2021. The incident took place in part of a cable tunnel near to the control room at the plant. No injuries to staff were noted and the situation was stabilised quickly. The company said that the fire will not affect domestic cement sales as it has sufficient inventory.
Siam Cement Group establishes Philippines logistics subsidiary
28 October 2021Philippines: Siam Cement Group has established a subsidiary to provide logistics services for its business in the Philippines. Reuters News has reported that the group has injected US$205,000-worth of investment into the company.
Thailand: Siam Cement Group (SCG) has received approval for the issuance and offering of debentures up to US$2.97bn in its subsidiary SCG Chemicals. Reuters News has reported that the group is offering the shares under a medium-term note programme.
SCG Packaging takes out US$148m sustainability-linked loan
29 September 2021Thailand: SCG Packaging has taken a US$148m four-year loan from Bank Ayudhya. The loan is subject to environmental, social and governance (ESG) criteria and key performance indicators. The loan’s interest rate is tied to the company's sustainability performance targets, namely reducing greenhouse gas emissions, managing water resources and increasing the sales portion of its Green Choice label products and services. Bank Ayudhy will serve as sustainability coordinator, with the ability to adjust it down annually if sustainability goals are met.