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Siam Cement's Chemicals Business Reports 74% Fall in Profits

1:39 AM MDT | April 26, 2012 | Deepti Ramesh

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok) has reported a 74% fall in net profits for the first quarter ended March 31, 2012, compared with the year-ago period, to baht1.24 billion ($40 million), mainly due to poor margins. First-quarter sales increased 9%, to baht52.9 billion, however, due to an increase in sales volume, the company says. Polyvinyl chloride producer Thai Plastic and Chemicals (TPC; Bangkok), an affiliate of SCG, has bought a 16.73% and 22.67% stakes in Vietnamese plastic pipe producers, Binh Minh Plastics Joint...

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