Siam Cement raises stake in Philippine tile maker
Siam Cement Plc has raised its stake in Philippines-based tile maker from 46 per cent to 83 per cent, through the investment of 210 million peso or approximately Bt150 million.
Mariwasa Siam Ceramics (MSC) is the largest ceramic tile producer in the Philippines with current market share of approximately 30 per cent with a plant located in Batangas City and the production capacity of 12
million square metres. The 2011 fiscal year, its sales and EBITDA were approximately Bt2 billion and Bt400 million, respectively. Additionally, MSC is the first ceramic tile manufacturer in the Philippines that has integrated ecology process in its operation to reduce carbon dioxide emission with an eco-label seal of approval.
Kan Trakulhoon, president and CEO of Siam Cement, said in a filing to the Stock Exchange of Thailand that his investment is another example of SCG’s commitment to expand its core businesses within ASEAN region. With total combined capacities of 149 million square metres, 71 per cent of these capacities is based in Thailand, while another 21 per cent is based in Indonesia, and the remaining 8 per cent is based in the Philippines.
