STAKE ACQUISITION 7UP unit branches into waste management
Seven Utility and Power Plc (7UP)’s board of directors has approved a Bt33.75 million investment by its subsidiary, Ferrum Energy, for a 30-per-cent stake in Universal Waste Management Co Ltd as a way to expand the subsidiary’s business to waste management, the company’s acting CEO, Chanin Kieatthaveepong, said yesterday.
The Bt33.75 million investment will come from the company’s cash flow, he added.
Meanwhile, the company’s board has appointed Sittichai Kritvivat as its chief executive officer, effective tomorrow, replacing
Chanin who had resigned from the position.
However, Chanin will continue to serve as the company’s director and chairman of the board.
