Siam Cement

Siam Cement ( Thai: บริษัท ปูน ซิ เมน ต์ ไทย จำกัด in short, SCG) is a Thai company based in Bangkok.

Siam Cement is a conglomerate. The company is particularly specialized in the production of cement. The core business of SCG also include the production and processing of pulp and paper, petrochemicals, and other building materials. Majority shareholder is the Crown Property Bureau ( CPB), which manages the royal assets.

History

The company was founded in 1913 by a decree of King Rama VI. ( Vajiravudh ) founder who wanted to end the country's dependence on cement imports. During the first 60 years after its founding, Siam Cement focused on the eponymous shop with cement. It was not until the year 1976, an expansion in the Pulp and Paper, in the 1980s, then a significant diversification in the fields of petrochemical, ceramics, iron and steel, machinery, tires and car parts. SCG elected in 1994, the legal form of a joint stock company (public company limited ) and has been in the SET Index.

Because of the foot attributable to its proximity to the royal house of the Prestige Group, many foreign companies have entered into joint ventures with SCG. Thus produced Siam Cement subsidiaries in the period before the Asian crisis with Toyota cars, with Michelin tires and with Mitsubishi televisions. On the eve of the crisis in 1996 belonged to SCG 130 companies with a total turnover of 6 billion U.S. dollars. From the early 1990s, Siam Cement relied heavily on internationalization. With the goal of becoming an industry leader in the Asia- Pacific region, SCG invested in the United States, the states of Southeast Asia and China. As these projects were exceeded the Group's financial performance and largely financed through borrowing, Siam Cement suffered massively from the depreciation of the Thai baht in 1997. SCG this year lost 52 million baht, its foreign debt amounted to 4.5 billion U.S. dollars.

However, the company was honest about his situation and presented with its creditors on a restructuring plan. With advice from McKinsey & Co., German Bank and JPMorgan Chase SCG decided on its core businesses of cement, pulp and paper and petrochemical industries to focus and divest subsidiaries in other industries, so as to reduce their debt. So Siam Cement gave his shares in several joint ventures (such as with Toyota, Mitsubishi, Guardian Industries and Knauf Gips ) to the respective partner from. SCG also spent seven -year bonds with which she took more than 2 billion U.S. dollars. Furthermore, the Group offered its employees to voluntary exit models and thus lowered its number of employees from 35,000 to 25,000. Back in 2000, Siam Cement was in the black again.

The company of Kan Trakulhoon (CEO) is headed Chairman of the Board is Chirayu Isarangkun Na Ayutthaya, the Director General of CPB. 2009 Siam Cement reported a turnover of 8.49 billion U.S. dollars, 0.49 billion profit and assets of 8.13 billion. The market value was estimated at 3.32 billion. , Making it the fourth-largest company in Thailand and one of the thousand largest in the world.