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Displaying items by tag: Thailand
Government spending drives SCG’s cement business growth
26 October 2018Thailand: SCG’s building materials division growth has been driven by government spending. The cement producer said that demand for Ordinary Portland Cement grew by 7% year-on-year in the third quarter of 2018. Its revenue from sales grew by 4% year-on-year to US$4.14bn in the first nine months of 2018. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 5% to US$481m.
Thammasak Sethaudom appointed as Vice President-Finance & Investment at Siam Cement Group
25 July 2018Thailand: Siam Cement Group has appointed Thammasak Sethaudom as its Vice President-Finance & Investment. He succeeds Chaovalit Ekabut. The appointment will take affect from 1 September 2018.
Thailand: Siam Cement Group’s sales revenue from its cement business rose by 4% year-on-year to US$2.74bn in the first half of 2018. Its profit grew by 8% to US$125m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 4% to US$355m. The cement producer said that the country’s demand for Ordinary Portland Cement (OPC) rose by 2% year-on-year in the second quarter of 2018 due to an increase in demand from the public sector. Overall the company’s sales revenue grew in the first half of 2018 but its profit and earnings fell due to currency variations and increasing cost of input chemicals.
Thai king takes control of stake in Siam Cement
18 June 2018Thailand: King Maha Vajiralongkorn has taken personal ownership of royal assets including a stake in Siam Cement. In March 2018 stock exchange data showed that the king acquired around a US$150m stake in the cement and chemical producer, according to Reuters. The Crown Property Bureau has transferred ownership of the assets worth at least US$30bn to the monarch.
Thailand: SCG’s cement business’ earnings have risen due to higher local prices and cost savings in the first quarter of 2018. Its earnings before interest, taxation, depreciation and amortisation (EBTIDA) rose by 7% year-on-year to US$201m in the first quarter of 2018 from US$195m in the same period in 2017. The company said that local demand for cement remained flat in the reporting period as increased demand from the government sector balanced out declines elsewhere. Local exports rose by 20% to 1.2Mt.
Thailand: Amir Reza Sinai has been appointed as the managing director of Beumer Group’s subsidiary in Thailand. The local company, which has 59 employees, acts as Beumer’s regional headquarters in South East and East Asia, where it covers the divisions Conveying & Loading Systems and Palletising & Packaging Systems. It also provides solutions for the cement industry.
Prior to working for Beumer, Amir Reza Sinai was the chief executive officer of the Indonesian subsidiary of a global plant engineering and construction company. He joined Beumer’s Thai subsidiary in early 2017, and for almost a year he headed the company’s office in Jakarta, Indonesia. He took up his current post on 1 January 2018.
Golden Lime buys Saraburi Quicklime
22 March 2018Thailand: Golden Lime, a subsidiary of Carmeuse and GP Group, has acquired a 99.9% stake in Thailand’s fourth largest lime company Saraburi Quicklime. Carmeuse says that this is the first acquisition among lime producers in the country. With the commissioning of a new production site early in 2018 and the acquisition of Saraburi Quicklime, Golden Lime’s production capacity has grown to 0.5Mt/yr from 0.33Mt/yr. No value for the deal has been disclosed.
Switzerland: Clothing company Elephbo is selling backpacks made from used Thai cement bags for as much as Euro120. The products have caused amusement in Thailand on social media, according to the Independent newspaper. Used cement bags from Siam Cement and Insee Diamond brands are being used with leather by the Swiss company to make a variety of fashion products including wallets, caps and trainers.
Siam City Cement Group hires Avaya and Loxley to strengthen communication infrastructure
28 February 2018Thailand: Siam City Cement Group has hired US company Avaya and Thai technology company Loxley to upgrade its communication infrastructure. The project was intended to help the cement producer manage the transformation into a multinational company with operations in Thailand, Sir Lanka, Bangladesh and Vietnam and 1500 workers. Products from Avaya have enabled employees in different regions to connect via a range of devices and channels via varied internet connections in different territories. The project has also enabled employees to use video conferencing to collaborate and to reduce the need for travel.
“With our rapid expansion across the region, we wanted a cost-effective solution that would enable us to meet our sustainable development objectives while driving our digital transformation journey,” said Khun Ittaya Sirivasukarn, chief executive officer (CEO) of Insee Digital, the IT subsidiary of Siam City Cement.
SCG Cement sees sales growth in 2017 despite sluggish market
24 January 2018Thailand: SCG Cement’s sales revenue rose by 3% year-on-year to US$5.5bn in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6% to US$705m. The cement producer reported that overall domestic Ordinary Portland Cement demand fell by 5% in 2017 due to a slow recovery in the private sector. Total domestic consumption of cement was around 37.5Mt 2017 and exports rose to 4Mt from 3.7Mt in 2016.