Displaying items by tag: Siam City

Sri Lanka: Insee Cement has signed research and development partnership deal’s with the Universities of Peradeniya, Moratuwa and Ruhuna. The agreements are intended to enhance the local construction industry through education, innovation and knowledge sharing, according to the Sunday Observer newspaper. The agreement was signed by Janaka Weerakoon of Siam City Cement and Upul Dissanayake of the University of Peradeniya, Ananda Jayawardena of the University of Moratuwa and SGJN Senanayake of the University of Ruhuna. Insee Cement was previously known as Holcim Lanka before it was purchased by Thailand’s Siam Cement in 2016.

Sri Lanka: Holcim Lanka has been rebranded as Insee Cement following its acquisition by Thailand’s Siam City Cement. The company will continue to use its Sanstha and Mahaweli Marine brands of cement but it will also introduce Insee Pro, Insee Pro Plus and Insee Extra brands, according to the Daily Financial Times newspaper.

Vietnam: Siam City Cement has signed an agreement to buy LafargeHolcim’s entire 65% stake in LafargeHolcim Vietnam for US$890m. LafargeHolcim Vietnam operates one integrated cement plant and four cement grinding plants with a grinding capacity of 6.3Mt/yr. The company is also a leading ready-mix concrete producer that operates seven plants in southern Vietnam. The sale is subject to regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim’s joint venture partner, and is expected to occur in the fourth quarter of 2016.

Mexico: Cemex has closed the sale of its operations in Bangladesh and Thailand to Siam City Cement for approximately US$53m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The deal was announced in March 2016.

Cambodia: The Chip Mong Insee Cement (CMIC) company has started building a US$262m cement plant in Kampot province. The plant will have a cement production capacity of 1.5Mt/yr when completed in 2018. CMIC is a joint venture, formed in 2012, between Chip Mong Group and Thailand’s Siam City Cement, according to Cambodia Daily.

“Kampot is an ideal location for cement factories because of access to the necessary limestone raw material and logistics,” said Nhan Ken, general sales and marketing manager at the Chip Mong Group. He added that the new plant will face competition from other local cement producers in Kampot including Kampot Cement, co-owned by the local Khaou Chuly Group and Bangkok-based Siam Cement, and the Chinese-funded Cambodia Cement Chakrey Ting Factory.

Mexico/Thailand/Bangladesh: Cemex has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement for US$53m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The deal is expected to be finalised in the second quarter of 2016 subject to regulatory approval.

Cemex runs a 0.8Mt/yr integrated cement plant in Saraburi, Thailand. The plant was originally purchased from Saraburi Cement for US$77m in 2001. Cemex operates a 0.52Mt/yr cement grinding plant in Madangonj, Bangladesh.

Thailand: Vorathep Rangchaikul will resign from the position of CEO at Siam City Cement . The resignation takes effect from 7 April 2016.

Cambodia: Siam City Cement's (SCCC) board of directors has approved a 40% share in a joint venture company in Cambodia, Chip Mong Cement Corporation, a first step in its strategy to take advantage of the upcoming Asean Economic Community.

The joint venture will involve the construction and operation of a 1.5Mt/yr capacity cement plant and related business, said Siva Mahasandana, acting SCCC deputy CEO and senior vice president for marketing and sales. He said the company had signed a definitive agreement with Chip Mong Group and three individuals, known collectively as CMG, to form the joint venture, which is expected to be in place by December 2015.

Mahasandana said that the joint venture company's registered capital would be US$150m, comprising 75,000 ordinary shares at a par value of US$2000/share. Once fully established, the new company will be renamed Chip Mong Insee Cement Corp.

Cambodia has been attracting investment with its government measures and low labour costs. Its economy has been growing measurably and the construction business is expected to grow in parallel, providing opportunities for SCCC's Insee brand. "We trust that this is an absolutely sustainable business venture in Cambodia and at the same time, we are exploring new investment opportunities in the Asean countries, especially in Cambodia, Laos, Myanmar and Vietnam," he Mahasandana.

Thailand: Holcim has sold its stake in Siam City Cement (SCC) for US$681m. The sale of its 27.5% stake in the Thai company will result in a pre-tax gain of roughly US$378m. The sum was booked in the first quarter. Jardine Matheson Group, a Hong Kong conglomerate, bought 24.9% of SCC from Holcim, while institutional investors purchased 2.6%. Holcim had held a stake in SCC since 1998 and began selling off its investment in 2012. It said that the sale wasn't related to its pending US$44bn union with Lafarge.

Thailand: Swiss cement maker Holcim Ltd has launched an up to US$741.4m selldown of shares in Thailand's second-largest cement company Siam City Cement (SCC). Holcim is selling 63.3 million SCC shares through its Thai Roc-Cem Ltd unit at an indicative range of between US$10.73 and US$11.68, according to Thomson Reuters.