Displaying items by tag: Thailand

Thailand: The ASEAN Federation of Cement Manufacturers (AFCM) has elected Chana Poomee as its president for a two year term from 2025 to 2027. He succeeds Yeoh Soo Keng in the role. Poomee has been the chair of the Thai Cement Manufacturers Association (TCMA) since 2022 and was re-elected in 2024 until 2026. He is also the chief sustainability officer of Siam Cement Group (SCG).

Thailand: Siam Cement Group (SCG) has forecast a 5% year-on-year rise in its full-year revenues due to economic revival and the government’s current stimulus package. President and CEO Thammasak Sethaudom said that increased customer purchasing power in Vietnam will raise SCG’s local cement and building material sales

SCG’s additional focuses will be on entering the Australia and North America markets and developing its high value-added products segment.

Thailand: At COP29 in Azerbaijan, the Thai Cement Manufacturers Association, in collaboration with the Department of Climate Change and Environment, the Global Cement and Concrete Association and United Nations Industrial Development, showcased the achievements of the ‘Saraburi Sandbox’ project. Notable successes include more than 80% of construction projects in Saraburi now using hydraulic cement, the cement industry increasing its use of alternative fuels and renewable energy to 26%, and a pilot project for growing crops like Napier grass for use as alternative fuels in cement production. These developments are key to implementing the Thailand 2050 Net Zero Cement and Concrete roadmap.

Vietnam: Thailand-based Siam Cement Group (SCG) says it is expanding the production of its SCG Low Carbon cement product in southern Vietnam. It plans to export up to 8000t/day of the product to the US, Canada, and Australia, as well as supplying local green-procurement projects, according to the Vietnam Business Forum. The company says its low-carbon cement reduces CO₂ emissions by up to 20%, compared to regular products, through the use of alternative fuels, renewable energy sources and installing waste heat recovery (WHR) units at its plants. SCG formally launched SCG Low Carbon Super Cement in the country in July 2024.

Thailand/UK: Thailand-based Siam Cement Thung Song has joined the World Cement Association as a corporate member. The cement producer is a subsidiary of Siam Cement Group that operates an integrated plant in the south of the country.

Thailand: Siam Cement Group (SCG) plans to cut costs by US$147m in 2025 to address a 75% year-on-year fall in nine-month profit to US$202m. Despite stable revenue of US$11.2bn during the period, earnings before interest, taxation, depreciation, and amortisation (EBITDA) dropped by 10% year-on-year to US$1.15bn.

In the third quarter of 2024, SCG reported revenue of US$3.79bn and EBITDA of US$292m, with profits dropping by 81% to US$21.3m due to currency exchange losses.

SCG aims to boost liquidity by selling assets and enhancing production efficiency, including a 50% increase in alternative fuel use in cement production, according to The Nation newspaper. Non-profitable businesses will be suspended, with further evaluations by mid-2025.

Thammasak Sethaudom, president and CEO of SCG, anticipates only a 3% rise in revenue for the coming year amidst global economic fluctuations and regional market challenges.

Thailand: Siam Cement Group (SCG) will allocate US$6bn between 2025 and 2030 to improve the sustainability of its businesses. The investment focuses on SCG Chemicals and SCG Cleanergy, with the latter increasing its renewable power capacity to 3500MW by 2030 and constructing a new heat battery unit for energy storage at the SCG cement plant in Saraburi. The company is also looking to expand into Vietnam, Indonesia and the Philippines.

President and chief executive Thammasak Sethaudom said “We focus on these businesses as they promise sustainable growth, in line with our inclusive green growth mission.”

Thailand: The Ratanarak Group, through its subsidiary Sunrise Equity, has increased its stake in Siam City Cement to 71.88% by acquiring a 25.54% share from Singapore-based Jardine Cycle & Carriage for US$354m. This move consolidates the Ratanarak Group's position as the sole major and controlling shareholder.

Philippines: Thailand-based producer Shera announced that its upcoming fibre cement plant in Mabalacat, Pampanga, has reached 60% completion and is on schedule to commence commercial operations by January 2025. The plant will be the company’s first production facility outside Thailand, capable of producing 0.24Mt/yr of fibre cement. The Mabalacat facility will also export to Taiwan, South Korea and parts of North Asia and Oceania and will create jobs for up to 150 people.

Ongek Taechamahaphant, chair and director, said “Our Mabalacat plant is a major step in Shera’s plan to expand further in the Philippine market. We know that once this facility is fully operational by 2025, more Filipinos will easily be able to access our eco-friendly and durable fibre cement products.”

Thailand: Siam Cement has reported its results for the first half of 2024. Sales stood at US$13.9bn, slightly down from US$14bn previously. Net income declined threefold to US$340m compared to US$1.36bn a year ago.

For the quarter ending 30 June 2024, the company recorded sales of US$3.5bn compared to US$3.45bn in June 2023, and a net income of US$102m compared to US$223m.