Displaying items by tag: Siam Cement
Siam Cement Group to build third cement plant in Cambodia
02 February 2017Cambodia: Thailand’s Siam Cement Group (SCG) is preparing to open its third cement plant in Battambang province in 2018. Chan Sophal, the governor of Battambang, said that SCG started building the plant in 2016 and has almost completed it, according to the Khmer Times newspaper. SCG is a majority shareholder in local producer Kampot Cement. Once operational the plant will have a production capacity of 1.8Mt/yr.
Siam Cement Group Building materials Division’s sales fall by 4% to US$4.9bn in 2016
25 January 2017Thailand: Siam Cement Group’s Building Materials division’s sales revenue fell by 4% year-on-year to US$4.9bn in 2016. Its profit fell by 17% to US$241m. It blamed the falling sales and profit on increased competition, falling earnings before interest, taxation, depreciation and amortisation (EBITDA) and increased depreciation expenses. Overall, across the group’s chemical and packaging division, sales revenue fell but profits rose in 2016 driven by the chemical business.
Roongrote Rangsiyopash, the president and chief executive officer of Siam Cement Group, said the company is focusing on expansion strategies within the Association of Southeast Asian Nations (ASEAN) region. Its 1.8Mt/yr cement plant in Myanmar started commercial production in early 2017 and a cement plant in Laos is undergoing commissioning.
Siam Cement Group to open Laos plant in early 2017
12 December 2016Laos: Siam Cement Group (SGG) plans to start commercial operations at a 1.8Mt/yr cement plant it is building in the first quarter of 2017. Construction of the plant is nearly complete, according to the Bangkok Post. SCG's president and chief executive Roongrote Rangsiyopash said that half of the output from the plant in will be used locally and the rest would be exported to the north-east of Thailand. He added that Laos consumes about 400,000t/yr and that SCG expects demand to grow by 6 - 7% in 2017 due to state funded infrastructure projects.
Siam Cement appoints Cholanat Yanaranop as Executive Vice President
07 December 2016Thailand: Siam Cement has appointed Cholanat Yanaranop as its Executive Vice President. He will also retain his role as President of Siam Cement Group Chemicals. The promotion will take effect from 1 January 2017.
Siam Cement orders vertical roller mill from Loesche
16 November 2016Thailand: Siam Cement has ordered a LM 56.3+3 CS vertical roller mill from Loesche for its cement plant in Kaeng Khoi. The mill will produce medium-fine cement qualities and is designed for grinding clinker, gypsum and limestone. The cement producer previously ordered a LM 56.3+3 CS mill from Loesche for its Ta Luang cement plant in 2014.
Foreign workers charged at Siam Cement-CITIC Heavy Industries plant project in Myanmar
10 October 2016Myanmar: Five foreign workers at Mawlamyine Cement, a cement plant being built by Siam Cement and CITIC Heavy Industries, have been charged for violating visa regulations. The workers failed to report the initial arrival of 11 of their colleagues’ to the local immigration authorities, according to the Myanmar Times. Four Chinese and one Thai citizen have been charged with violating three sections of the Registration of Foreigners Rules of 1948 which require the registration of foreigners with relevant immigration officials within 24 hours of arrival at a hotel.
Siam Cement and CITIC Heavy Industries signed a deal in 2013 to build a 5000t/day plant for US$197m. The plant is expected to become operational later in 2016.
Colombia/Thailand: Cementos Argos has held its position in the Dow Jones Sustainability Index (DJSI) for the fourth consecutive year. Cementos Argos was featured as the most sustainable cement company in the world after obtaining the best score in the construction materials sector. The Colombia-based materials producer was listed along with Thailand’s Siam Cement.
"The permanence in this index confirms our business model, in which we start with sustainability and innovation as pillars of the strategy to create value for our customers, shareholders, communities, employees, and other stakeholders,” said Juan Esteban Calle, CEO of Cementos Argos.
Argos obtained the best score among the following variables: Biodiversity, Operational Eco efficiency, Water related risks, Social Reporting, Labour Practice Indicators and Human Rights, Tax Strategy, Corporate Citizenship and Philanthropy, Human Talent Development and Talent Attraction and retention. In addition to being included in the Global Index, Cementos Argos was recognised in Emerging Markets for the fourth consecutive year.
Each year about 2500 global companies, listed on the stock exchange, belonging to about 59 economic sectors, are invited to participate in the DJSI.
Thailand: Siam Cement Group’s sales revenue from its cement and building materials division fell by 4% year-on-year to US$2.54bn in the first half of 2016. Profit for the half-year period fell by 11% to US$165m. The cement producer reported that Thailand’s total domestic cement demand decreased by 3% year-on-year in the second quarter of 2016 due to soft demand from non-government sectors.
Overall, Siam Cement Group saw a 2% fall in revenue across all business lines to US$3.11bn and a rise in profit by 18% to US$843m. It attributed the rise in profits to the performance of its chemical business.
“We see a bright future for markets across the region, with steady growth rates. Especially in Vietnam, demand for building materials and packaging has risen, on the back of the boom of construction industry, with several infrastructure, residential and industrial projects, as the country has become a key production base of the world. Cambodia also continues to see steady growth of its industries while Indonesia has also begun to see improvements in the economy, with construction of several government mega-projects. At the same time, trade around the borders of Thailand and neighbouring countries is also doing well,” said Roongrote Rangsiyopash, President and CEO of Siam Cement Group.
Siam Cement Group to join forces with Viglacera
18 November 2015Vietnam: Thailand's Siam Cement Group (SCG) is considered partnering with Hanoi-based Viglacera Corporation to expand its operations in Vietnam. The two companies plan to jointly carry out a project to produce medium- and high-end construction materials for domestic sales and export.
Siam Cement’s third quarter 2015 profit up by 15%
28 October 2015Thailand: Siam Cement's net profit rose by 15% year-on-year to US$254m in the third quarter of 2015 as improved margins from petrochemical products outweighed weak performance of cement and packaging businesses, according to Reuters. However, profit fell by 19% quarter-on-quarter due to weaker chemical prices and inventory loss.