Siam Cement raises stake in Philippine tile maker
Siam Cement has raised its stake in a Philippine tile maker from 46 per cent to 83 per cent at a cost of 210 million pesos (Bt150 million).
Mariwasa Siam Ceramics (MSC) is the largest ceramic-tile producer in the Philippines, with about 30 per cent of the market.
Its plant in Batangas city can yield 12 million square metres a year.
In its 2011 fiscal year, its sales were about Bt2 billion and earnings before interest, taxes, depreciation, and amortisation Bt400 million.
MSC is the first ceramic-tile maker in the Philippines to integrate an environment-friendly process in its operations to reduce carbon-dioxide emissions and win an eco seal of approval.
Kan Trakulhoon, president and chief executive officer of Siam Cement, said in a filing to the Stock Exchange of Thailand yesterday that the group was committed to expanding its core businesses within the Asean region.
The company has raised its total ceramic-tile capacity to 149 million square metres, of which 71 per cent is based in Thailand, 21 per cent in Indonesia and 8 per cent in the Philippines.
