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Siam Cement’s Chemicals Business Reports Fall in Profits

1:20 AM MDT | July 29, 2010 | Deepti Ramesh

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), reported a 6% fall in net profits for the second quarter, to baht3.07 billion ($96 million), compared with the year-ago period. Sales increased by 63%, to baht38 billion, mainly due to additional volume from the company’s new chemicals complex. Work on about 18 of SCG’s 20 petrochemical projects at Map Ta Phut, Thailand was halted last December following a previously announced court order to suspend new projects at the site due to environmental concerns. The Central...

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