Displaying items by tag: Thailand

Thailand: Siam Cement Group has revised down its sales growth outlook for 2017 to 3 – 5 % from 5 - 10%, following an unexpected drop in cement demand in the first half of the year. The group's net profit in the April to June period was US$396m, a decrease of 17% year-on-year, on sales of US$3.2bn, unchanged from the same period of 2016.

"The cement market in Thailand slowed down more than we expected," explained Chief Executive Roongrote Rangsiyopash. Net profits in cement and building materials, one of its three core business units, slid by 29%.
Roongrote said that government infrastructure projects, which are being increasingly approved and going through bidding procedures, had not yet reached the stage of actually needing cement.

Domestic cement sales by volume were down by 7% year-on-year in the April-June period, following an earlier 7% fall in the previous quarter. Demand in all sectors, from the government, commercial construction and residential buildings, declined. "I hope that the latter half of the year will improve, but I am not sure that we can make up for the decline in the first half," added Roongrote.

Adding to the slow domestic market, other Association of Southeast Asian Nations (ASEAN) markets also saw sluggish cement demand, although Roongrote shrugged off concerns, saying that the slump had been caused by ‘temporary factors.’

Thailand: SCG had opened its ‘Open Innovation Centre’ research and development hub. As well as supporting SCG’s internal research across its three core businesses the centre also intends to support business start-ups in conjunction with the group. Suvit Maesincee, Minister Attached to the Prime Minister’s Office, Atchaka Sibunruang, Minister of Science and Technology, Roongrote Rangsiyopash, president and chief executive officer (CEO) of SCG and Cholanat Yanaranop, Executive Vice President of SCG and Chairman of SCG Innovation Committee attended the event.

Thailand: Siam City Cement has deployed pervasive network infrastructure and plant-wide wireless connectivity at its Plant 3 in Saraburi as part of its ‘Digital Connected Plant’ plan. Cisco supplied the hardware and Fujitsu helped with the system integration, according to the Nation newspaper. The upgrade is part of the cement producer’s Industrial Internet of Things (IIoT) strategy where it intends to track employees, contractors and assets in real time to raise productivity and safety.

Thailand: Siam Cement Group’s Building Materials division’s sales fell by 2% year-on-year to US$1.29bn in the first quarter of 2017 due to lower prices and falling volumes in the local market. The group reported that domestic cement demand fell by 7% in the quarter due to flooding in the south of the country. Earnings before interest, taxation, depreciation and amortisation (EBTIDA) for the division were also negatively affected by the weather falling by 10% to US$181m. Overall the group’s sales and EBITDA rose due to earnings from its Chemical division.

Vietnam: Holcim Vietnam has been officially renamed as Siam City Cement Vietnam following its acquisition by Thailand’s Siam City Cement. Holcim products will now be sold locally under the Insee brand, according to the Saigon Times. An agreement for Siam City Cement to buy LafargeHolcim’s 65% stake in Holcim Vietnam was announced in August 2016.

Thailand: Siam City Cement’s profit in 2016 has been reduced by various costs including the purchase of Cemex’s assets in Bangladesh. The cement producer reported that its profit fell by 15% year-on-year to US$112m in 2016 from US$131m in 2015. Its sales revenue grew by 10% to US$977m from US$889m. In comments to the Nation newspaper, Siva Mahasandana, the cement producer’s chief executive officer, said the company's strategy to expand the business through key investments in Thailand and nearby regional countries had an immediate positive impact on sales. He added that the full benefit from its acquisitions were likely to be realised in 2017.

Thailand: 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.

Thailand: 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.

Thailand: 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.

Vietnam: Vietnam’s exports of cement and clinker fell by 16.6% year-on-year to 11.3Mt in the first nine months of 2016. The value of the exports fell by 17.2% to US$429.3m. The Philippines, Bangladesh, Taiwan and Mozambique were among major importers of Vietnamese clinker and cement in the nine-month period, according to data from the Ministry of Industry and Trade. Local cement producers have faced competition from those in Thailand and China.