Holcim-Lafarge merger to have 'no effect' on SCCC

Corporate July 09, 2014 00:00

By The Nation

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Siam City Cement reported to the Stock Exchange of Thailand that the merger plan between its major shareholder Holcim Ltd and Lafarge SA to create LafargeHolcim would have no impact on its business.

SCCC secretary Wutthipon Songwisit told the SET yesterday that the merged entity was the most advanced and innovative group in the building-materials industry. 
This was to update the bourse on the progress of the merger plan with regard to the disposal of the assets of these two companies in several countries, including Austria, France, Germany, Hungary, Romania, Serbia, the United Kingdom, Canada, Mauritius, the Philippines and Brazil.
However, this disposal of assets has no impact on the business and operations of SCCC, Wutthipon said. 
In addition, the Thai company has not been informed by Holcim of any review or change of its investment policy or its shareholding in SCCC, he said.
At present, Switzerland-based Holcim Group holds 27.5 per cent in Siam City Cement. This was diluted from 36.8 per cent when the group sold part of its stake to another existing SCCC shareholder, Bangkok Broadcasting and Television Co, in 2012.