Thailand's Siam Cement Group to acquire Boral Indonesia for $139m

01 February 2012 06:12  [Source: ICIS news]

SINGAPORE (ICIS)--Thai conglomerate Siam Cement Group (SCG) said on Wednesday it will fully acquire Boral Indonesia, a construction materials business, for baht (Bt) 4.3bn ($139m).

The acquisition from Australia’s Boral Limited is expected to be completed before the end of June, SCG said in a disclosure to the Stock Exchange of Thailand.

“This acquisition continues with SCG’s expansion strategy of core businesses across the ASEAN [Association of Southeast Asian Nations] region,” SCG said.

Boral Indonesia has a capacity to produce 2.2m cubic metres (cbm) of ready mixed concrete (RMC) and operates under the brand “Jayamix” across its 40 plants across Java and Sumatra, Indonesia, SCG said.

“Furthermore, Boral Indonesia possesses other highly valued assets, such as concrete pipes, precast concrete operations, strategic quarries, and key limestone reserves for future expansion considerations,” SCG said.

($1 = Bt30.99)

By: Pearl Bantillo
+65 6780 4359

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