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Siam Cement’s chemicals business swings to profit

3:06 AM MDT | July 31, 2013 | Deepti Ramesh

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), reports a net profit of 2.64 billion baht ($84 million) for the second quarter compared with a net loss of baht1 billion in the year-ago quarter mainly because of better margins and higher sales volume of products, SCG says. Second-quarter sales for SCG Chemicals increased 6%, to baht52.35 billion mainly because of higher sales volume for olefins, SCG says. Ebitda for the business increased 93% in the second quarter, to baht5.53 billion. For the first half, SCG Chemicals reports a 3.5%...

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