Friday, December 15, 2017 7:50:57 AM - Markets closed
VN-INDEX 935.85 +11.45/+1.24%
HNX-INDEX 111.47 +1.02/+0.92%
UPCOM-INDEX 54.35 +0.21/+0.38%
SCG spends $156 million to buy cement company
Source: VNS - 3/9/2017 9:36:36 AM
 (0 ratings. You must sign in to rate.)
 Thailand’s Siam Cement Group (SCG) has spent US$156 million to buy a Kusto Group’s cement company in Quảng Bình Province.

SCG Cement-Building Materials Company Limited, a member of SCG, acquired 100 per cent stake in Vietnam Construction Materials Joint Stock Company in central Việt Nam. Enterprise value of this transaction is $440 million, including net debt and investment cost for improving acquired assets.

The production line has a capacity of 3.1 million tonnes (in Portland cement) and is the largest production base of SCG outside Thailand. The project has the potential to operate with optimum efficiency to improve the factory’s total capacity, SCG estimated. In addition, the central region is characterised by a balance between supply and demand in the cement sector.

The group also operates cement projects in Cambodia, Indonesia and Myanmar. Following this transaction in Việt Nam, SCG’s cement production in ASEAN (excluding Thailand) has increased to 10.5 million tonnes, besides the 23 million tonnes in Thailand currently.

SCG is one of the leading multinational corporations in the South East Asia region, focusing mainly on SCG Cement-Building Materials, SCG Chemicals and SCG Packaging. The corporation currently has more than 200 subsidiaries and 52,500 employees.

SCG acquired a part of Long Sơn Petrochemicals Complex (LSP) for $36.1 million, raising its stake in LSP from 46 per cent to 71 per cent, making it the largest shareholder last week. By the end of 2016, SCG had invested more than $800 million through a number of projects in Việt Nam.

Newer News
14/12 Hai Phong City slashes fees
12/12 TPP-11 forging ahead without the US
12/12 EVN reports 8-percent rise in 11-month electricity output
12/12 Seafood turnover expected to hit $8.3b
12/12 WB forecasts Vietnam's GDP growth at 6.7% this year
11/12 Vietnam plans to raise over $570 million through IPOs in energy firms
11/12 Key exports rebound
09/12 Việt Nam records $2.76b trade surplus: Ministry
09/12 Aquaculture output scales up 8 percent
08/12 Manufacture is economic propellant
Older News
08/03 MoIT targets bigger GDP role for logistics sector
08/03 Huge trade potential in Australia
07/03 Vietnam pepper faces difficult year
07/03 Over 345 million USD in FDI poured into property sector
07/03 Gasoline prices slightly drop
07/03 Firms want hotline to Gov’t leaders
06/03 Cashless economy target too high: experts
03/03 Retail sales, services drop after Tết
02/03 VN industrial production lagging
02/03 Wood product exporters ready to expand global market share
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:01:10 PM
VN-INDEX 935.85 +11.45/+1.24%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.