Vietnam: Indonesian cement producer Semen Gresik has bought the Vietnamese cement company Thang Long Cement. The purchase was included in a conditional sales purchase agreement between Semen Gresik and Ha Noi General Export Import Joint Stock Company (Geleximco). Semen Gresik refused to state the value of the deal or the percentage of shares it had acquired.
"I am afraid we cannot mention it right now, but we are the majority. We will let you know in a month from now," said Dwi Sutjipto, Semen Gresik CEO. With the acquisition Semen Gresik hope to increase its market share and production capacity in Vietnam.
Thang Long Cement has a total production capacity of 2.3Mt/yr. Two new factories are expected to open soon, in the Quang Ninh and Binh Phuoc provinces, increasing the company's total capacity to 6.5Mt/yr.