Siam Cement Group is reportedly looking to the Philippines in the latest expansion news from the company. It is considering building a fibre cement board factory as the construction industry expects to see an increase in demand. The company currently supplies the market through imports, but is apparently looking at the improving economic condition in the Philippines with interest.
“Demand for housing will increase as population increases. Some of our planned investments are still under study, so we may not be able to disclose figures and other data but we are looking at so many things we can do for the Philippine market,” SCG international business director Surasak Kraiwitchaicharoen told press.
This follows the company’s business strategy of entering a market initially as an importer, testing demand and then establishing new plants only when demand reaches a sufficient level.
“We are very confident in the growth of the company in the Philippines,” said SCG president for paper operations Roongrote Rangsiyopash. “We aim (to) continue to grow, to continue to invest technology, research and development.” The Paper division of SCG is also looking at expansion opportunities in the Philippines, including a possible cooperation with the government to establish a tree plantation.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21102013/siam_cement_considers_growth_in_the_philippines_310/