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Siam Cement’s chemicals business reports huge rise in profits

12:23 PM MST | January 30, 2014 | Deepti Ramesh

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), reports net profits of 2.23 billion baht ($67.7 million) for the fourth quarter of 2013 compared with net profits of baht185 million in the year-ago quarter, mainly because of a recovery of margins, the company says. Fourth-quarter sales for SCG Chemicals decreased 2%, to baht48.32 billion, because of a 45-day maintenance shutdown at one of its naphtha crackers, SCG says. Ebitda for the business nearly tripled compared to the year-ago quarter, to baht5.45 billion. For full-year 2013, SCG...

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