Siam Cement and Siam Global House enter into 50:50 joint venture

According to local press reports, Siam Cement Plc (SCC) and Siam Global House Plc (GLOBAL) will enter into a 50:50 joint venture, Global House International (GHI). SCC will reportedly invest some THB200 million to acquire 50% of GHI.

Kan Trakulhoon, President and Chief Executive of SCC, told local press that the company would make use of Siam Global House’s expertise in order to enhance its growth strategy in the ASEAN. Initial targets for market entry include Myanmar, Cambodia and Laos, followed by Indonesia at a later stage.

In other news, SCC is planning to invest approximately THB3.19 million to expand its retail business in the ASEAN region and increase revenue from high-value-added products. The funding will additionally be used for research and development activities.

Edited from various sources by Rosalie Starling

Sources

• Bangkok Post
• The Nation

Read the article online at: https://www.worldcement.com/asia-pacific-rim/02092014/siam-cement-and-siam-global-house-enter-into-50-50-joint-venture-398/