Siam Cement’s Chemicals Business Reports Fall in Profits

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), has recorded a 19% fall in net profits for the second quarter ended June 30, 2011, compared with the year-ago period, to baht2.5 billion ($84 million). Sales increased by 30%, to baht49.5 billion, mainly due to the additional volume from the new second chemicals complex, Map Ta Phut Olefins Co. 67-33 jv with Dow in Rayong province, Thailand. Profits for the quarter decreased mainly due to “lower margins at subsidiaries and associate companies and inventory loss as the chemicals...

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