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Siam Cement’s Chemicals Business Reports Rise in Profits and Sales

1:04 AM MST | January 27, 2011 | Deepti Ramesh

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), has recorded an 80% rise in net profits for 2010, to baht22.6 billion ($734 million), compared with 2009. The rise in profits was mainly due to the divestment of shares in PTT Chemical (Bangkok), SCG says. Sales for 2010 increased 43%, to baht144 billion, mainly due to increased production, the company says. Quarterly figures were not disclosed. SCG announced last month it will sell 236 million shares or about 15.59% of PTT Chemical, at baht140/share, to investors on The Stock Exchange of...

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